Intel actually spent too much effort on the Itanium, it was stillborn. The Xeon Phi was just the product name of the Larrabee without the display output parts,

Intel actually spent too much effort on the Itanium, it was stillborn. The Xeon Phi was just the product name of the Larrabee without the display output parts, and the Larrabee was demoted to the Xeon Phi BECAUSE it didn't have enough potential to compete with the discrete GPUs from Nvidia and AMD. The current attempt at discrete GPUs is more promising.