Tech giants AT&T, IBM and Intel, along with two investment firms, will form a company to provide high-speed wireless Internet access across the United States, one of the biggest and most ambitious ventures of its kind to address the burgeoning Wi-Fi market.

The new company, called Cometa Networks, will not provide wireless access directly to consumers or corporations, but instead will be a wholesaler of a nationwide wireless service, targeting customers such as telecommunications companies, Internet service providers, cable operators and wireless carriers, which then can resell the service to their consumer and corporate customers.

Previously known under the code name ``Project Rainbow,'' the venture was first reported in July, and at the time, some telecommunications carriers were expected to join as partners. The three investors are Intel Capital, Intel's venture capital group; Apax Partners, a private equity investment group; and 3i, a venture capital firm in Menlo Park. The companies declined to disclose how much they are investing in Cometa, or their share of the total investment.

Cometa, to be based initially in San Francisco, hopes to become the biggest provider of networks using so-called wireless fidelity (Wi-Fi) technology, also called 802.11. Wi-Fi, which started out as a grass-roots phenomenon among early adopters of technology, is becoming more widespread. Many cafes, airports and corporations are installing wireless access points so that users with Wi-Fi enabled add-in cards in their laptops can access the Internet using radio airwaves, within short distances.

With AT&T providing the network, Cometa will focus on forming relationships with national and regional retailers, hotels, universities and real estate firms to deploy access points throughout the United States. It plans to start deploying access points next year, and it expects to have 20,000 access points nationwide by 2004. IBM will provide wireless site installation and support functions through its Global Services division.

Other wireless ventures are seeking to capitalize on the popularity of Wi-Fi technology, including the T-Mobile venture announced a few months ago, providing wireless access in many Starbucks locations. But these services require setting up and paying for a new account. One of the benefits of the Cometa approach, analysts said, is its intent to act as a wholesaler to existing Internet service providers and other carriers, which then can offer the wireless access as an additional feature, probably for an additional charge, to their monthly service plan.

``What we will not do is build out a network and see if they will come,'' Larry Brilliant, chief executive of Cometa, told reporters during a conference call.

The executives added that when Intel launches its new mobile chip, code-named Banias, next year, with wireless capability built into an accompanying chipset, the market should really take off. ``Instead of 3 million devices, you will see 80 to 90 million out there seeking hot spots,'' Brilliant said. ``Our goal is not to develop ahead of that curve, not behind that curve, but to ride that wave.''

At least one analyst appeared to agree.

``As soon as Banias comes out, everyone who buys a new notebook is going to have that'' capability, said Keith Waryas, an analyst with IDC. ``To me, the combination of these two events, Banias and this, kind of signals that you are about to see an avalanche.''

He pointed out that one challenge the new company may face is placement fees at some in-demand locations, such as airports, which are charging as much as $4 million to $5 million to build out wireless access points. But he added that a company with such heavy hitters as Intel, IBM and AT&T behind it might have more leverage than rival wireless start-up companies, such as Boingo Wireless, a Santa Monica company founded by EarthLink founder Sky Dayton.