With support from investors and digital asset manager DigitalBridge Group, Intel announced that it was creating a new, independent company centered around its artificial intelligence software initiatives.

Executives from Intel did not provide details on the deal's value or whether the company would keep a majority ownership in the new business, stating only that the company would continue to have an independent board of directors and that the chipmaker would be a shareholder.

The new company, dubbed Articul8 AI (pronounced Articulate AI), will not be listed on any stock exchanges and is a result of Intel's initial work on business AI technology with Boston Consulting Group (BCG).

Intel used one of its own supercomputers to create a generative artificial intelligence (AI) system that combines in-house and open-source technologies to read both text and images.

To help BCG with their privacy and security issues, Intel then adapted that system to run inside BCG's own data centers.

Arun Subramaniyan, who will take over as CEO of Articul8, was previously vice president and general manager of Intel's data center and artificial intelligence division.

He claimed that many other prospective clients had similar concerns about giving their data to big cloud computing businesses for AI work.

Additionally, he stated that prospective clients were worried about uncontrollably high prices should thousands of their staff begin utilizing the devices.

Intel's latest attempt to raise outside funding for its business units is the creation of Articul8.

The chipmaker intends to eventually market its programmable chip unit as an initial public offering and split out the auto chip company Mobileye Global.

In addition to the publicly traded company DigitalBridge, which is a significant data center investor, additional Articul8 investors include GS Futures, Fin Capital, Communitas Capital, Mindset Ventures, GiantLeap Capital, and Zain Group.