Nvidia said it will invest $5 billion in Intel as part of a deal to co-develop data center and PC chips with the troubled chipmaker. The Trump administration brokered a 10% stake in the chipmaker in August. The investment, which is subject to regulatory approvals, does not appear to include the manufacturing of Nvidia chips with Intel’s foundry.
Nvidia said it will invest $5 billion in Intel as part of a deal to co-develop data center and PC chips with the troubled chipmaker, which took on the U.S. government as an investor last month.
Nvidia is investing its stake at a price of $23.28 a share, a release from the company said. Intel shares closed 22.8% higher to $30.57 following news of the deal.
Intel posted its best day since October 1987. Nvidia shares closed 3.54% higher on Thursday.
“This historic collaboration tightly couples NVIDIA’s AI and accelerated computing stack with Intel’s CPUs and the vast x86 ecosystem — a fusion of two world-class platforms. Together, we will expand our ecosystems and