Intel Surges After Nvidia Announces $5 Billion Investment To Develop Chips

Benzinga

Nvidia will invest $5 billion in Intel to jointly develop data center and PC chips, following the U.S. government’s recent investment in the struggling chipmaker, according to CNBC. Nvidia invested in Intel at $23.28 per share, while Intel stock surged 22.8% to $30.57 after the deal was announced. Nvidia CEO Jensen Huang said the Intel partnership will merge Nvidia’s AI stack with Intel’s CPUs to expand ecosystems and drive the next era of computing. Nvidia has joined SoftBank and the U.S. government in backing Intel’s turnaround. Intel had its strongest trading day since October 1987, while Nvidia shares rose 3.54% on Thursday.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02NVIDIA will invest $5 billion in Intel to jointly develop data centers and PC chips

00:07by the U.S. government's recent investment in the struggling chipmaker, according to CNBC.

00:11NVIDIA invested in Intel at $23.28 per share,

00:15while Intel's stock surged 22.8% to $30.57 when the deal was announced.

00:20NVIDIA CEO Jensen Huang said the Intel partnership will merge NVIDIA's AI stack with Intel's CPUs

00:25to expand ecosystems and drive the next era of computing.

00:28NVIDIA has joined SoftBank and the U.S. government in backing Intel's turnaround.

00:32Intel had its strongest trading day since October 1987,

00:35while NVIDIA's shares rose 3.54% on Thursday.

00:38For all things money, visit Benzinga.com.

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