Nvidia bets big on Intel with $5 billion stake, chip partnership

[Smiggles]

Nvidia bets big on Intel with $5 billion stake, chip partnership

Nvidia said on Thursday it would invest $5 billion in Intel , throwing its heft behind the struggling U.S. chipmaker just weeks after the White House engineered an extraordinary deal for the federal government to take a massive stake in the company.

www.reuters.com

SAN FRANCISCO, Sept 18 (Reuters) - Nvidia (NVDA.O), opens new tab said on Thursday it would invest $5 billion in Intel (INTC.O)
, opens new tab, throwing its heft behind the struggling U.S. chipmaker just weeks after the White House engineered an extraordinary deal for the federal government to take a massive stake in the company.
The stake will instantly make Nvidia one of Intel's largest shareholders, giving it roughly 4% of the company after new shares are issued to complete the deal. Nvidia's support represents a new opening for Intel after years of turnaround efforts failed to pay off, and it triggered a jump in the U.S. manufacturer's shares.

 

[Smiggles]

 

[Sworaxe]