Overview

• Nvidia will invest $5 billion at $23.28 per share for roughly a 4% Intel stake, sending Intel stock up about 23% after the announcement.
• Under a multigenerational roadmap, Intel will build custom x86 CPUs for Nvidia’s AI platforms and manufacture x86 PC SoCs that integrate Nvidia RTX GPU chiplets.
• Joint products will link Intel processors and Nvidia GPUs using Nvidia’s NVLink interconnect, enabling higher‑bandwidth, lower‑latency systems including rack‑scale AI configurations with Xeon.
• Nvidia said it will continue to have its GPUs made at TSMC, while Intel Foundry supplies CPUs and advanced packaging for the joint products, a setup analysts say could indirectly support Intel’s 14A process.
• Engineering teams have collaborated for about a year; analysts expect client SoCs to take at least three to four years to reach volume production, and executives said the U.S. administration was not involved in the deal.