Nvidia announced a $5 billion investment in Intel through the purchase of common stock at $23.28 per share, pending regulatory approval.

This investment establishes a collaboration between Nvidia and Intel to develop custom data centers for artificial intelligence infrastructure and PC products.

The big picture: Nvidia CEO Jensen Huang described the partnership as a fusion of Nvidia’s AI-accelerated computing stack with Intel’s CPU and x86 ecosystem, targeting the next era of computing. • Intel will produce custom chips for Nvidia’s AI infrastructure platforms used in data centers, while for personal computers Intel will build chips integrated with Nvidia technology.

State of play: Following the announcement, Intel shares surged 25%, marking their largest single-day gain in decades; N

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