Intel and Nvidia Partnership Sends Chip Stocks Soaring

Intel's stock skyrocketed 23% after Nvidia announced a $5 billion investment and partnership to develop advanced chips, making it the S&P 500's biggest winner. The deal, following Intel's agreement to give the U.S. government a 10% stake, signals confidence in Intel amid booming AI and cloud computing demands. Synopsys also jumped 13%, while FactSet and Darden Restaurants faced profit struggles. The S&P 500 hit a record high after a Fed rate cut, with the chip sector dominating headlines. Hosted on Acast. See acast.com/privacy for more information.