04:11 AM EDT, 08/15/2024 (MT Newswires) -- SoftBank has abandoned its plans to develop an artificial intelligence chip with Intel ( INTC ) after the latter struggled to meet SoftBank's demands for volume and speed, the Financial Times reported Thursday, citing unnamed people familiar with the matter.

The Japanese company has blamed Intel ( INTC ) for the collapse of the discussions, which failed in recent months, the sources told FT. The AI chip was supposed to rival Nvidia ( NVDA ) .

Following this, SoftBank has shifted its focus to discussions with Taiwan Semiconductor Manufacturing ( TSM ) .

Softbank and Intel ( INTC ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)