11:18 AM EDT, 08/30/2024 (MT Newswires) -- Intel ( INTC ) and International Business Machines ( IBM ) signed a partnership to install the chipmaker's Gaudi 3 artificial intelligence accelerators on IBM Cloud which is designed to help enterprises scale AI, the companies said Thursday.

Financial terms of the collaboration weren't disclosed.

The new service is anticipated to be available early next year for both hybrid and on-premise environments, the companies added.

With the collaboration, Intel ( INTC ) and IBM ( IBM ) said they intend to reduce the total cost of ownership through AI to enhance performance.

Additionally, IBM ( IBM ) also plans to provide support for Gaudi 3 within its watsonx AI and data platform for offering customers with additional AI infrastructure resources, according to the companies.

Intel ( INTC ) shares rose 9.3% in recent Friday trading, while IBM ( IBM ) shares edged up 0.3%.

Price: 22.01, Change: +1.88, Percent Change: +9.31