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International Business Times UK
International Business Times UK
Niloy Chakrabarti

Intel Shares Jump 22% After Nvidia Plans to Invest $5B in the Company, Jointly Develop AI Chips

Intel Corporation Nvidia Intel Foundry Services
Nvidia would have a 4% stake in Intel after the deal. (Credit: Alexandre Debiève/Unsplash)

Intel (Nasdaq: INTC) shares soared over 22% on Thursday after Nvidia (Nasdaq: NVDA) announced that it will invest $5 billion (£3.7 billion) in Intel's common stock at $23.28 (£17.26) per share. Meanwhile, Nvidia shares also rose 3.5% on the development.

'This is a game-changer deal for Intel as it now brings them front and centre into the AI game,' Wedbush analyst Dan Ives wrote in a note to investors Thursday.

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