Nvidia and Intel announced a groundbreaking partnership with Nvidia investing $5 billion in Intel stock. The collaboration will focus on developing data center and PC products to revolutionize computing.

Intel CEO Lip-Bu Tan and Nvidia CEO Jensen Huang expressed excitement about the partnership, highlighting Tan’s turnaround capabilities and Huang’s confidence in him.

The deal with Nvidia marks a significant win for Tan, coming shortly after the U.S. government’s investment in Intel. The partnership aims to strengthen Intel’s position and stabilize its foundry business.

Although Nvidia becoming an Intel foundry customer is not currently part of the plan, Intel stock has surged 16% in the last month. Tan’s successful first six months as CEO could signify a new era for the chipmaker.

Read more at Yahoo Finance: ‘I’d Like to Thank Jensen for the Confidence in Me,’ Lip-Bu Tan Marks 6 Months as Intel’s New CEO by Announcing a $50-Billion-a-Year Deal with Nvidia