Overview

• Nvidia will buy Intel common stock at $23.28 per share in a $5 billion deal that is subject to customary regulatory approvals, with reporting indicating a roughly 4% stake after new shares are issued.
• The collaboration includes Intel building Nvidia‑custom x86 server CPUs for Nvidia’s AI platforms and x86 PC system‑on‑chips that integrate Nvidia RTX GPU chiplets connected via NVLink.
• Jensen Huang said TSMC remains Nvidia’s primary fabricator, leaving the role and economics of Intel’s foundry in the partnership unresolved.
• Intel shares spiked to a 52‑week high with an intraday jump reported between about 22% and 30%, then slipped on Friday after a Citi downgrade even as several firms raised targets.
• The tie‑up follows the U.S. government’s roughly 10% stake in Intel, and Nvidia said the White House had no role in its transaction, while former Intel directors urged exploring a take‑private restructuring.