One of the world’s most valuable companies is throwing Intel a lifeline.
Nvidia, which has a market cap of $4.3 trillion, said today that it will invest $5 billion in Intel, the struggling US chipmaker that was recently at the center of an unorthodox investment deal with the US government. Intel shares jumped more than 30 percent following the news.
The two American chip makers are also entering into a product collaboration. Intel said in a statement early Thursday morning that “Intel’s leading CPUs and x86 ecosystem will be seamlessly connected with NVIDIA’s AI and accelerated computing capabilities using NVLink,” referring to Nvidia technology that connects CPUs with GPUs.
Intel CEO Lip-Bu
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