Nvidia announced today that it will partner with Intel to co-develop PC and AI data chips. Intel stock surged above 28% today following the announcement, which forms part of a range of agreements.  The collaboration deal gives Nvidia approximately 4% stake in Intel at $23.28 per share. The investment is part of several collaborations Intel has formed to reverse its competitiveness in the semiconductor business. The Trump administration invested in the company, taking a 10% stake worth $8.9 billion in August, while Japan’s SoftBank committed $2 billion.