Intel spins out AI software firm with backing from DigitalBridge

FILE PHOTO: A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - Intel on Wednesday said it was forming a new independent company around its artificial intelligence software efforts with backing from digital-focused asset manager DigitalBridge Group and other investors.

Intel executives would not comment on the value of the deal or whether it would retain a majority stake in the new venture, other than to say the firm would have an independent board of directors and the chipmaker would remain a shareholder.