Intel (INTC) stock is spiking premarket on news of an unprecedented $5 billion investment from Nvidia (NVDA), establishing a historic collaboration between the two semiconductor giants to develop custom data center and PC products. This partnership strategically combines Nvidia's AI and accelerated computing expertise with Intel's established CPU technologies and x86 ecosystem, potentially strengthening both companies' market positions.
Nvidia is investing in INTC at a price of $23.28 per share, according to a press release, while Intel stock has soared 28% ahead of the open to trade near $32. If those premarket gains hold, INTC will be on pace for its best daily gain of the century.
