US EditionWall Street indexes notch record-high closes as Intel soars on Nvidia stake
Nvidia's $5 billion investment boosts Intel's stock by 33%, marking its best day since 1987 amid a strategic partnership to develop chips for data centers and PCs.
- On Thursday, Intel said it will invest $5 billion in Nvidia, and Intel shares surged about 22.6% to their best day since 1987.
- Intel's rebound followed renewed U.S. government support after the chipmaker hit its lowest level in more than a decade earlier this year.
- Huang and Intel CEO Lip-Bu Tan will hold a press conference at 1 p.m. ET, describing the partnership as tightly coupling NVIDIA's AI and accelerated computing stack with Intel's CPUs and the x86 ecosystem.
- Wall Street rallied Thursday as tech stocks led gains, with the S&P 500 rising 0.5% and the Nasdaq composite climbing 0.9%.
- The deal focuses on co-developing products for data centers and personal computers, and the investment is subject to regulatory approvals amid Nvidia's U.S.-China trade negotiations.
115 Articles
115 Articles
Intel was once a pioneer of the chip industry. But the last thing the company lost in importance. Now he gets help from today's industry leader.
The American giant of graphics chips for the AI will invest in its former rival. Both groups will collaborate on chips for data centers and PCs.
Nvidia to invest $5 billion in Intel; companies will work together on AI, PCs
Nvidia announces a new partnership with Intel to work on custom data centers and personal computer products. Nvidia is also investing $5 billion in Intel's common stock. The deal is subject to regulatory approvals. The deal comes a month after…
Wall Street indexes notch record-high closes as Intel soars on Nvidia stake
Wall Street's main indexes posted record-high closes on Thursday, a day after the U.S. Federal Reserve delivered a quarter-point interest rate cut, while chipmaker Intel rose after Nvidia decided to build a stake in the company.
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