Intel Corp. (INTC) Hits Historic High After Nvidia $5-Billion Investment, Partnership

We recently published 10 Stocks Stole the Show, 5 Hit Historic Highs. Intel Corp. (NASDAQ:INTC) is one of the best performers on Thursday..

Shares of Intel Corp. rallied to a new all-time high on Thursday as investors gobbled up shares after securing a $5 billion investment from technology giant Nvidia Corp. (NASDAQ: NVDA) and partnering to co-develop AI infrastructures and personal computing products.

In intra-day trading, the stock soared to its highest 52-week price of $32.38 before trimming gains to end the day up by 22.77 percent at $30.57 apiece.

In a statement, Nvidia Corp. said it acquired $5 billion of shares in Intel Corp. (NASDAQ:INTC) at a price of $23.28 apiece, subject to customary closing conditions, including required regulatory approvals.

In line with the investment, the two companies committed to jointly develop multiple generations of custom data center and PC products that accelerate applications and workloads across hyperscale, enterprise, and consumer markets.

Additionally, Intel Corp. (NASDAQ:INTC) and Nvidia will focus on seamlessly connecting their architectures using the latter’s NVLink, which would integrate the strengths of NVIDIA’s AI and accelerated computing with Intel’s leading CPU technologies and x86 ecosystem to deliver cutting-edge solutions for customers.

For data centers, Intel Corp. (NASDAQ:INTC) will build NVIDIA-custom x86 CPUs that NVIDIA will integrate into its AI infrastructure platforms and offer to the market.

For personal computing, Intel Corp. (NASDAQ:INTC) will build and offer to the market x86 system-on-chips (SOCs) that integrate NVIDIA RTX GPU chiplets. The new x86 RTX SOCs will power a wide range of PCs that demand integration of world-class CPUs and GPUs.

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Disclosure: None. This article is originally published at Insider Monkey.