Deals, partnerships, and a tussle with China.
Transcript:
NVIDIA has dominated headlines this week – here’s what you need to know.
The chip giant just spent more than $900 million to hire the CEO of AI startup Enfabrica, key employees, and license its tech. It’s known as an “acquihire” – essentially paying to bring top talent on board. Meta and Google have done the same.
NVIDIA also made waves with a $5 billion chip manufacturing deal with Intel, giving Intel’s stock a major boost. Intel will produce custom CPUs and integrated circuits for NVIDIA’s AI platforms.
But not all news is good: The Financial Times reports that China has banned its biggest tech firms from buying NVIDIA’s AI chips – a blow as Beijing ramps up efforts to grow its domestic industry.
Still, investors aren’t panicking. NVIDIA is only m
odestly lower this week – and shares remain up more than 50% in the past year.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m Caroline Woods with TheStreet.
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