Intel shares soared 30% in trading on Wall Street Thursday morning to $32.38 after NVIDIA announced it would invest $5 billion in the company to jointly develop data centers and PC chips. The news has increased momentum for the stock, which had already contributed to a 10% government stake in Intel last month in the Trump 2.0 administration.
Thursday’s surge marked Intel’s best single-day earnings in nearly three decades. The stock opened at $31.78, up 27.7%, and expanded intraday earnings to reach $32.38 in the first half.
According to temporary exchange data, the spike is 79% lower than the decade lower than earlier this year.
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NVIDIA shares also rose, gaining 3.7% at intraday highs, at $176.6 respectively.
