Semiconductor giant Intel (NASDAQ:INTC) is teaming up with global investment major DigitalBridge Group (NYSE:DBRG) to set up an independent generative AI company for enterprises called Articul8 AI.
Articul8 was formed with IP and technology developed at Intel. Further, Arun Subramaniyan will be at the helm of Articul8. Subramaniyan was previously the Vice President and General Manager at Intel’s Data Center and AI Group.
The new company offers enterprise customers a full-stack, vertically optimized, and secure GenAI software platform. Further, Intel and Articul8 will work together to drive GenAI adoption at enterprises while remaining aligned on go-to-market opportunities.
Apart from DigitalBridge Ventures (the lead investor) and Intel, multiple names–including Fin Capital, Mindset Ventures, GiantLeap Capital, and Zain Group–have picked up stakes in Articul8. Importantly, with its scalable and easy-to-deploy software platform, Articul8 could drive rapid GenAI adoption at enterprises.
Recently, Intel bagged a $3.2 billion grant for its planned mega chip facility in Israel. The $25 billion plant is expected to be the biggest investment ever by a company in Israel. Notably, the company plans to invest nearly $100 billion in a chip complex in Ohio even as it expands its footprint in Europe.
What is the Target Price for Intel Stock?
Overall, the Street has a Hold consensus rating on Intel. Following a massive 92% rally in the company’s share price over the past year, the average INTC price target of $41.48 implies a potential downside of 13.2% in the stock.
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