Today's Edition
SAN FRANSCICO (WAM)
Nvidia announced on Thursday that it will invest $5 billion in Intel, lending significant support to the struggling chipmaker.
The move gives Intel fresh momentum after years of unsuccessful turnaround efforts and sent its shares soaring 23%.
Following the new share issuance, Nvidia’s investment will make it one of Intel’s largest shareholders, with an estimated 4% stake in the company.
