Overview

• Nvidia will purchase Intel common stock at $23.28 per share for roughly a 4% stake, subject to regulatory approvals.
• Intel will design custom x86 CPUs for Nvidia’s data-center platforms and develop PC system-on-chips that integrate Nvidia RTX GPU chiplets.
• The companies said the agreement does not currently include manufacturing Nvidia chips at Intel’s foundry.
• Intel shares jumped about 25% to 33% in premarket trading after the announcement, while Nvidia rose roughly 3%.
• CEOs Jensen Huang and Lip-Bu Tan plan a 1 p.m. ET press conference, following recent U.S. government and SoftBank investments that have shored up Intel.