Wall Street is rising toward more records on Thursday as Nvidia and Intel lead a rally for technology stocks after announcing a deal that includes a $5 billion investment.
Is a deal with AI darling Nvidia enough to win investors over to Intel's stock?
Earlier today, Nvidia (NVDA) made headlines by announcing a partnership with Intel (INTC) to co-develop PC and data center chips.
Mizuho Americas Managing Director Jordan Klein discusses how Nvidia taking a stake in Intel would be "bad" for AMD and why it can add pressure to ARM. Klein joins Caroline Hyde on “Bloomberg Tech.
Nvidia CEO Jensen Huang said that the company's $5 billion investment and technology collaboration with Intel comes after the two companies held discussions for nearly a year. Nvidia said it will collaborate with the chipmaker to create AI systems for data centers that combine Intel's x86-based central processors with Nvidia's graphics processors and networking.
Steven Orr, CEO & founder of Quasar Markets, explains why Nvidia's new partnership with Intel is such a strategic play. Transcript: CAROLINE WOODS: Joining me now, Steven Orr, founder and CEO of Quasar Markets.
This is a breaking story and will be updated.
CNBC's Joe Kernen and Jon Fortt report on the latest news.
Intel will build Nvidia-custom x86 CPUs that Nvidia will integrate into its AI infrastructure platforms.
Intel (INTC) closed at $25.25 in the latest trading session, marking a +1.94% move from the prior day.
Intel and Advanced Micro are racing ahead in AI chips, but AMD's growth outlook and strong positioning give it the investment edge.
Intel (INTC) shares advanced Monday when the struggling semiconductor manufacturer announced that it was lowering its outlook for full-year costs following the sale of a majority stake in its Altera programmable chip business.