NVIDIA (NVDA) Invests $5 Billion Intel Deal, Buy Rating Reaffirmed by TD Cowen

NVIDIA Corporation (NASDAQ:NVDA) ranks among the best hot AI stocks to buy right now. Following NVIDIA Corporation (NASDAQ:NVDA)’s announcement of a $5 billion investment in Intel, TD Cowen reaffirmed its Buy rating and $235 price target the company’s shares on September 19. The agreement intends to bridge the AI and PC sectors by fusing NVIDIA’s AI and accelerated computing capabilities with Intel’s CPU technology and x86 ecosystem.

The move, according to the firm, is “a win-win for both NVIDIA Corporation (NASDAQ:NVDA) and Intel,” but also poses “a manageable headline risk” to competitors AMD and Arm.

TD Cowen describes the investment as a “low-risk optionality” for NVIDIA Corporation (NASDAQ:NVDA) and “an AI/PC lifeline for Intel,” though the firm also pointed out that the partnership’s “wide-ranging potential implications” “will take time to play out.”

NVIDIA Corporation (NASDAQ:NVDA), a world leader in networking and graphics processing, provides GPUs for the AI, gaming, HPC, and other industries. The company’s products span data centers, gaming, professional visualization, and the automotive markets.

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