Intel's due diligence process for acquisitions is a joke. Intel Capital should be dissolved and shut down.
Apple is 5X larger market cap than Intel and look how they do acquisitions - extremely selective, small and targeted acquisitions, mostly under $100M.
Nervana was $500M. Complete waste. Naveen Rao and few others became VPs and sitting pretty. They are considered AI experts. Give me a break.
Look at the difference between Apple a company with more money than any other and Intel in how they deploy capital and their success rate.
One makes long term strategic buys and another as someone mentioned a reactionary response to the latest fad because executives have no discipline nor vison of any kind. The BoD role here is critical and as you can see in their selection and firing of BK the same level of quality as their review and decisions about acquisitions
Intel acquisitions are always reactionary and panicky. Zero foresight as expected from a company where sycophants are only capable of telling senior management what they want to hear.