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Stanford University via flickr
Nvidia will purchase $5 billion worth of Intel stock at $23.28 per share. Intel stock finished at $24.90 on Wednesday.
Intel stocks surged 29% in pre-market trading on Thursday, hitting their peak since July of the previous year. Nvidia's stock has risen by 2.9%.
In the collaboration, Intel will create custom chips to be incorporated into Nvidia's AI platforms intended for data centers. The firm will additionally focus on creating chips for personal computers.
The pact, however, does not refer to Nvidia's utilization of Intel's manufacturing plants to create its own chips.
It was reported earlier that the US government obtained a 10% ownership in Intel.
source: bloomberg.com
Intel stocks surged 29% in pre-market trading on Thursday, hitting their peak since July of the previous year. Nvidia's stock has risen by 2.9%.
In the collaboration, Intel will create custom chips to be incorporated into Nvidia's AI platforms intended for data centers. The firm will additionally focus on creating chips for personal computers.
The pact, however, does not refer to Nvidia's utilization of Intel's manufacturing plants to create its own chips.
It was reported earlier that the US government obtained a 10% ownership in Intel.
source: bloomberg.com
