Intel is horrible at assimilating external companies and making a good investment on it... Look at all those AI companies, but by buying them they don't have to compete or worry about their competitors getting that competitive advantage? Maybe worth the $billions...
Almost all big companies are awful at this. I've worked for a few large companies and most of theses go really poorly, especially for tech companies run by wall st. CEOs. I remember when I worked for a large industrial conglomerate, myself and 5 others tasked with doing "due diligence" on a companies technology and the feasibility of integrating it with our existing software products. We all basically said making the systems work together was at best a multi year effort, at worst a 5 year effort and didn't think the acquisition would in the end achieve something another team couldn't build in the same time frame. It didn't matter of course the CEO said, we have great people we'll make it work and executed the acquisition anyway.
As you can imagine, years went by and the two systems were never integrated. The root cause you ask? Well the team on the existing product had commitments and did have or want to waste cycle on such a gigantic effort. On the other side the team on the existing product had commitments and did have or want to waste cycle on such a gigantic effort.
The brilliance of the wall st. CEO didn't bother to think of having a team tasked with the integration per the recommendation, nah, just figured the teams were "smart enough" to figure it. The company ended up splitting up and the two groups sold off separately. In the 7 years they were together, the two system were never integrated.
I've had similar experiences at other large companies, but that one was by far the worst.