Intel and Nvidia announce a huge partnership to jointly develop multiple generations of consumer CPU and data center products. Nvidia is also investing $5 billion in Intel.

That's right, peeps, Intel and Nvidia have released a joint statement revealing plans to work together to build new computing products based on Intel's x86 CPUs and Nvidia's GPUs. Oh, and Nvidia is investing $5 billion in Intel. Hold that thought.

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NVIDIA announces $5 billion deal with Intel: will collaborate on join chip development for consumer and AI segments with NVIDIA RTX GPUs onboard.

"At the heart of this reinvention is Nvidia’s CUDA architecture. This historic collaboration tightly couples Nvidia’s AI and accelerated computing stack with Intel’s CPUs and the vast x86 ecosystem - a fusion of two world-class platforms. Together, we will expand our ecosystems and lay the foundation for the next era of computing.”

With the aim of collaboration, alongside helping keep the U.S. chipmaker afloat, Nvidia's significant investment in Intel should be mutually beneficial.

In a seismic move shaking up the semiconductor world, Nvidia (NASDAQ:NVDA) announced yesterday it was pouring $5 billion into its longtime rival Intel (NASDAQ:INTC). Nvidia is acquiring a stake in Intel at $23.

Nvidia's surprise $5 billion stake in Intel comes with a multiyear product roadmap -- and big implications for AI data centers and PCs.