Nvidia has agreed to invest $5bn in its struggling rival Intel as part of a deal to develop new chips for PCs and data centres, the latest reordering of the tech industry spurred by artificial intelligence.
Intel’s shares surged 29 per cent in pre-market trading on the Thursday announcement, which unites two of Silicon Valley’s longest-running competitors.
The deal comes a month after the US government agreed to take a 10 per cent stake in Intel, as Donald Trump’s administration looks to secure the future of American chip manufacturing.
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