Intel shares soar as Nvidia announces $5 billion investment

Nvidia plans to invest $5 billion in chipmaker Intel as the two Big Tech companies have agreed to co-develop data center and PC chips. The news comes on the heels of the U.S. government acquiring a 9.9% stake in Intel via an $8.9 billion investment in the company last month. Intel shares spiked 29% in pre-market trading Thursday on the news. Nvidia shares saw a 3% increase. “This historic collaboration tightly couples NVIDIA’s AI and accelerated computing stack with Intel’s CPUs and the vast x86 ecosyste ...