"NEW YORK -- Nvidia, the world's leading chipmaker, announced on Thursday that it's investing $5 billion in Intel and it will collaborate with the struggling semiconductor company on products. Nvidia and Intel will team up to work on custom data centers that form the backbone of artificial intelligence infrastructure as well as personal computer products, Nvidia said in a press release."
"Nvidia said it will spend $5 billion to buy Intel common stock at $23.28 a share. The investment is subject to regulatory approvals. MORE: Japan's SoftBank to take $2 billion stake in computer chip maker Intel "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.""
Nvidia will invest $5 billion to purchase Intel common stock at $23.28 per share, pending regulatory approvals. The companies will collaborate on custom data-center chips for AI infrastructure and PC products that integrate Nvidia technology with Intel CPUs and the x86 ecosystem. Intel will produce bespoke chips for Nvidia's AI platforms, while Intel will build PC chips that incorporate Nvidia technology. The agreement provides financial support to Intel amid recent losses and planned workforce reductions and aims to align Nvidia's accelerated computing stack with Intel's processor roadmap to expand both ecosystems.
Read at ABC7 Los Angeles
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