The company is looking into claims that a shipment of 300 fake Core i7-920 processors had been sent to respected parts seller Newegg from a partner.
"Newegg is currently conducting a thorough investigation surrounding recent shipments of questionable Intel Core i7-920 CPUs purchased from Newegg.com," said the company in a statement.
"Initial information we received from our supplier, IPEX, stated that they had mistakenly shipped us demo units. We have since come to discover that the CPUs were counterfeit, and are terminating our relationship with this supplier.
"Contrary to any speculation, D&H Distributing is not the vendor that supplied us with the Intel Core i7-920 CPUs in question."
One buyer posted a video of his purchase on YouTube. The box looked realistic but contained a chip without mounting pins, a manual consisting of blank pages and a non-functional plastic model of a fan.
"Intel has been made aware of the potential for counterfeit i7-920 packages in the marketplace and is working to how many and/or where they are being sold, " said Intel in a statement.
"The examples we have seen are not Intel products but are counterfeits. Buyers should contact their place of purchase for a replacement and/or should contact their local law enforcement agency if the place of purchase refuses to help."