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Wall Street indexes notch record-high closes as Intel soars on Nvidia stake
Nvidia's $5 billion investment boosts Intel's stock by 33%, marking its best day since 1987 amid a strategic partnership to develop chips for data centers and PCs.
- On Thursday, Intel said it will invest $5 billion in Nvidia, and Intel shares surged about 22.6% to their best day since 1987.
- Intel's rebound followed renewed U.S. government support after the chipmaker hit its lowest level in more than a decade earlier this year.
- Huang and Intel CEO Lip-Bu Tan will hold a press conference at 1 p.m. ET, describing the partnership as tightly coupling NVIDIA's AI and accelerated computing stack with Intel's CPUs and the x86 ecosystem.
- Wall Street rallied Thursday as tech stocks led gains, with the S&P 500 rising 0.5% and the Nasdaq composite climbing 0.9%.
- The deal focuses on co-developing products for data centers and personal computers, and the investment is subject to regulatory approvals amid Nvidia's U.S.-China trade negotiations.
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160 Articles
Nvidia to invest $5 billion in Intel, providing a lifeline
Nvidia, the world's dominant maker of artificial intelligence chips, said on Thursday that it would invest $5 billion in its struggling rival, Intel, a deal that illustrates how booming demand for AI is reshaping the global technology industry.
·Buffalo, United States
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Total News Sources160
Leaning Left26Leaning Right4Center60Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 29%
C 67%
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