Tech Stocks Surge as Intel and Nvidia Forge $5 Billion Chip Partnership
Major indices hit record highs as technology stocks led market gains. Intel shares soared after Nvidia announced a $5 billion investment in the chipmaker, coupled with a collaboration to develop new data center and PC chips. Nvidia also saw its stock rise on the news.
PayPal and Alphabet advanced following a deal to integrate Google's AI tools into PayPal's e-commerce platform. Cybersecurity firm CrowdStrike jumped after raising its revenue forecast, while restaurant chains Darden and Cracker Barrel tumbled on profit warnings.
The tech rally underscores growing institutional confidence in semiconductor and AI infrastructure plays. Market participants appear to be rewarding strategic partnerships that strengthen competitive positioning in key growth sectors.
