The investment is the latest in a string of deals that have bolstered Intel, which has struggled in the AI race.

"Having Jensen's blessing is priceless," the Bernstein senior analyst Stacy Rasgon wrote about Nvidia's $5 billion investment in Intel.

Nvidia will invest $5 billion in its competitor Intel to further intertwine Nvidia’s AI-boosting chips and Intel’s x86 architecture and CPUs. The companies will work together on several generations of data center and PC infrastructure, both companies announced on Thursday.

What do you do with Intel Corp.’s stock after its best day in 38 years?

Bloomberg journalists discuss today's biggest winners and losers in the stock market. Listen for analysis on the companies making news on Wall Street.

While a multibillion-dollar investment by Nvidia does provide some upside to the struggling businesses, some see minimal improvement and recommend selling Intel stock.

In the week since NATO fighter jets scrambled to shoot down multiple dozens of Russian drones that had crossed into alliance airspace in Poland, US and Western intelligence officials have been unable to determine whether the incursion was accidental or an intentional effort by Russia to probe western air defenses and gauge NATO’s response.

Asian shares mostly retreated Friday after a rally of technology stocks led by Nvidia and Intel pushed Wall Street to more records. Japan's Nikkei 225 switched from gains to losses and was down nearly 1.