Nvidia and Intel announced on Sept. 18, 2025, that Nvidia planned to invest $5 billion in Intel alongside a collaboration to develop data center and personal computing products. The agreement outlined plans to connect Intel’s x86 processors with Nvidia’s computing and graphics technology.
In that announcement, Nvidia said it would purchase Intel common stock at $23.28 per share. The investment was subject to customary closing conditions, including required regulatory approvals.
The September product plans
For data centers, the companies said Intel would build custom x86 CPUs for Nvidia to integrate into its AI infrastructure platforms. For PCs, Intel would build and sell x86 system-on-chips incorporating Nvidia RTX GPU chiplets.
The companies said they planned to develop multiple generations of products and use Nvidia’s NVLink technology to connect their architectures. Their announcement cautioned that the timing and success of products developed through the collaboration remained uncertain.
Intel’s government funding agreement
Intel separately announced an agreement for the U.S. government to invest $8.9 billion in its common stock. Intel said the government’s equity stake would be funded by $5.7 billion in previously awarded but unpaid CHIPS and Science Act grants and $3.2 billion awarded through the Secure Enclave program.
Under the announced terms, the government would purchase 433.3 million shares at $20.47 each, equivalent to a 9.9% stake. Intel described the planned ownership as passive, without board representation or other governance or information rights.
In its third-quarter 2025 results, Intel reported receiving $5.7 billion from the government during the quarter. It reported revenue of $13.7 billion, up 3% from a year earlier. Intel described those results as preliminary and unaudited, with potential revisions pending consultation with the Securities and Exchange Commission about accounting for the government transactions.
