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Nvidia CEO Jensen Huang at Wednesday's U.K. state banquet for President Trump. Photo: Andrew Caballero-Reynolds - Pool/Getty Images)
AI chip maker Nvidia is coming to the aid of its struggling rival Intel, agreeing to invest $5 billion in the company and to collaborate on developing chips for data centers and PCs.
Why it matters: It's a huge vote of confidence in Intel, which last month agreed to allow the U.S. government to take a nearly 10% stake in the company for $8.9 billion.
