(Reuters) – Nvidia said on Thursday it will invest $5 billion in Intel, throwing its heft behind the struggling U.S. chip foundry weeks after the White House engineered a deal for the U.S. government to take a massive stake in the company.

Nvidia’s support represents a new opening for Intel after years of turnaround efforts at the famed U.S. manufacturer failed to pay off. Intel shares surged 30% in premarket action.

Here are some comments from analysts on this deal.

COMMENTS:

MATT BRITZMAN, SENIOR EQUITY ANALYST, HARGREAVES LANSDOWN:

“Nvidia’s $5 billion investment in Intel is less about money and more about influence.”

“For Intel, this is another welcome boost, both financially and strategically, as it leans on Nvidia to stay competitive. But even with the U.S. government and Nvidi

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