Nvidia said Thursday it would invest $5 billion in Intel, throwing its heft behind the struggling chipmaker just weeks after the White House engineered an extraordinary deal for the federal government to take a massive stake in the company .

The stake will instantly make Nvidia one of Intel’s largest shareholders, giving it roughly 4% of the company after new shares are issued to complete the deal. Nvidia’s support represents a new opening for Intel after years of turnaround efforts failed to pay off, and it triggered a jump in the manufacturer’s shares.

The company – once the chip industry’s flag bearer that claimed to put the “silicon” in Silicon Valley – appointed a new CEO, Lip-Bu Tan, in March. He quickly came under fire from US elected officials, including President Trump, who ca

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