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 U.S. government to take a massive stake in the company.

The stake instantly will make Nvidia one of Intel’s largest shareholders, giving it roughly 4% or more 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 at the famed U.S. manufacturer failed to pay off, and it triggered a 30% jump in the troubled chipmaker’s shares in premarket action.

The company – once the chip industry’s flagbearer that claimed to put the “silicon” in Silicon Valley – appointed a new CEO, Lip-Bu Tan, in March.

He came under f

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