Nvidia buys $5 billion Intel stake in landmark chipmaking partnership

SANTA CLARA, California: Nvidia is throwing a US$5 billion lifeline to longtime rival Intel, buying a significant stake in the struggling chipmaker and agreeing to collaborate on new products that blend Intel's traditional processors with Nvidia's powerful AI chips.

The world's most valuable semiconductor company said this week it will purchase Intel common stock at $23.28 a share, pending regulatory approvals.