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Intel (INTC) unveiled its latest artificial intelligence (AI) chip, the Gaudi 3 AI accelerator, which the chipmaker claims outperforms Nvidia's (NVDA)H100, during an event on Tuesday.

The Gaudi 3 accelerator delivers "50% on average better inferenceand 40% on average better power efficiency" than Nvidia's H100 at "a fraction of the cost," Intel said.

The latest Intel AI chip will be available to some original equipment manufacturers (OEMs)including Dell Technologies (DELL), Hewlett Packard Enterprise (HPE), Lenovo, and Super Micro Computer (SMCI) in the second quarter of 2024.

The announcement comes as the chipmaker works to compete with other semiconductor companies leading the AI boom, including Nvidia and Advanced Micro Devices (AMD).

Intel compared its latest chip to Nvidia's H100, which was first announced in 2022. Nvidia has since unveiledthe Blackwell platform, the latest version of its AI-powering tech, whichanalysts called the "most ambitious project in Silicon Valley," in March.

Nvidia's latest chip, the GB200, "provides up to a 30x performance increase compared to the same number of NVIDIA H100 Tensor Core GPUs for LLM inference workloads, and reduces cost and energy consumption by up to 25x," the company said.

Intel shares were up 0.4% at $38.12 as of about 12:45 p.m. ET Tuesday. The stock has lost about one-fifth of its value year to date.

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Intel Takes Aim at Nvidia's AI Dominance With Launch of Gaudi 3 Chip - Investopedia