Nvidia will invest $5 billion in Intel as part of an agreement to jointly develop custom data center and personal computing hardware.

In a statement, the two companies said they would work to connect Nvidia and Intel architectures using Nvidia’s NVLink technology, with Intel set to build custom x86 CPUs that will integrate into Nvidia AI infrastructure platforms.

For the personal computing segment, Intel will produce x86 system-on-chips (SOCs) that integrate with Nvidia RTX GPU chiplets for inclusion in PCs.

Subject to customary closing conditions, including required regulatory approvals, Nvidia will buy $5bn worth of Intel stock at $23.28 per share. Jensen Huang and Lip-Bu Tan, CEOs of Nvidia and Intel, respectively, will hold a joint conference later today to further discuss the announcement.

“AI is powering a new industrial revolution and reinventing every layer of the computing stack - from silicon to systems to software. At the heart of this reinvention is Nvidia CUDA architecture,” said Huang.

“This historic collaboration tightly couples Nvidia’s AI and accelerated computing stack with Intel’s CPUs and the vast x86 ecosystem - a fusion of two world-class platforms. Together, we will expand our ecosystems and lay the foundation for the next era of computing.”

Tan added: “Intel’s x86 architecture has been foundational to modern computing for decades - and we are innovating across our portfolio to enable the workloads of the future. Intel’s leading data center and client computing platforms, combined with our process technology, manufacturing, and advanced packaging capabilities, will complement Nvidia’s AI and accelerated computing leadership to enable new breakthroughs for the industry.

“We appreciate the confidence Jensen and the Nvidia team have placed in us with their investment and look forward to the work ahead as we innovate for customers and grow our business.”

The news comes less than a month after the US government announced it had taken a 9.9 percent stake in Intel, with the state investing $8.9 billion in the chipmaker – $5.7bn of which came from funds that would have been awarded to the company through the CHIPS Act, and $3.2bn from funds under the Secure Enclave program.

Intel has already received $2.2bn from the CHIPS subsidies, but the claw-back and profit-sharing provisions in the subsidies will be eliminated, the government said at the time.

The deal comes after a turbulent time for the US chipmaker, where it has seen its market share eroded both in chip design and manufacture, damaging the capabilities of the nation's only leading-edge chipmaker.

Last week, CEO Tan appointed Kevork Kechichian as executive vice president and general manager of Intel’s DCG – formerly known as the Data Center and AI Group. Kechichian was formerly an executive vice president of solutions engineering at Arm and has also worked at NXP Semiconductors and Qualcomm.

Other recent executive appointments at Intel include bringing in Srinivan Iyengar to lead the company’s new Central Engineering Group and to build a “new custom silicon business.” He joined the company in June 2025, and it was reported at the time that he would lead a ‘customer engineering center of excellence.’

Iyengar previously headed global silicon engineering at Cadence Design Systems, which Tan was CEO of from 2009 to 2021.