Benzinga | Dec 14, 2021 09:21AM EST

Read How Intel Aims To Tap Metaverse

* Intel Corp (NASDAQ:INTC) is working on software that will help laptops tap into computing power from other devices, including chips from its rivals to tap the "metaverse," Reuters reports.

* At a news conference Raja Koduri, head of Intel's accelerated computing systems and graphics group, said the company's first technology push into the metaverse would be software that helps devices take advantage of computing power that already exists and is unused.

* Koduri said the software would work with chips from competitors. The software aims to solve technical challenges for users.

* "The way we are architecting all the layers is that it is going to work with everybody's hardware, as long as they are on industry-standard specifications," Koduri told. "There'll be a lot of open-sourcing involved with everything that we build."

* Price Action: INTC shares traded lower by 0.38% at $49.81 in the premarket session on the last check Tuesday.