Nvidia Announces $5B Stake in Intel: INTC Stock Rallies 30%
Nvidia corporation (NVDA) is joining the US government in purchasing a $5 billion stake in semiconductor giant Intel (INTC). The Thursday announcement sent INTC shares skyrocketing by 30% during today’s stock trading session. Nvidia said Thursday in a press release that it will invest $5 billion in Intel’s common stock, pending regulatory approval. Per a Nvidia press release on Thursday, the companies will focus on seamlessly connecting NVIDIA and Intel architectures using NVIDIA NVLink — integrating the strengths of NVIDIA’s AI and accelerated computing with Intel’s leading CPU technologies and x86 ecosystem to deliver cutting-edge solutions for customers. Nvidia’s stake purchase would represent a roughly 4% stake in Intel, and bring recent outside investment in the latter to $16 billion. Indeed, the Trump administration was reportedly in talks with TSMC and Intel to split up the company and hand over Intel’s manufacturing business to its Taiwanese counterpart....