"Nvidia said it will spend $5bn to buy Intel common stock at $23.28 a share. The investment is subject to regulatory approvals. This historic collaboration tightly couples NVIDIA's AI and accelerated computing stack with Intel's CPUs and the vast x86 ecosystem a fusion of two world-class platforms, Nvidia CEO Jensen Huang said. Together, we will expand our ecosystems and lay the foundation for the next era of computing."
"For data centers, Intel will make custom chips that Nvidia will use in its AI infrastructure platforms. while for PCs products, Intel will build chips that integrate Nvidia technology. The agreement provides a lifeline for Intel, which was a Silicon Valley pioneer that enjoyed decades of growth as its processors powered the personal computer boom, but fell into a slump after missing the shift to the mobile computing era unleashed by the iPhone's 2007 debut."
"Intel fell even farther behind in recent years amid the AI boom that's propelled Nvidia into the world's most valuable company. Intel lost nearly $19bn last year and another $3.7bn in the first six months of this year, and expects to slash its workforce by a quarter by the end of 2025. Nvidia, meanwhile, has soared because its specialized chips are underpinning the artificial intelligence boom."
Nvidia will invest $5bn to buy Intel common stock at $23.28 a share, subject to regulatory approvals, and will collaborate on custom data-center and PC chips that integrate Nvidia technology. Intel will produce custom chips for Nvidia's AI infrastructure platforms while building PC chips that incorporate Nvidia components. Intel shares jumped 29% pre-market and Nvidia rose nearly 3%, boosting Nvidia's $4tn market value. Intel has suffered heavy losses—nearly $19bn last year and $3.7bn in the first half of this year—and plans to cut its workforce by about 25% by the end of 2025.
Read at www.theguardian.com
Unable to calculate read time
Collection
[
|
...
]