Qualcomm rival MediaTek jumps 10% after $3.5 billion Nvidia AI chip deal
The two companies will work on integrating Nvidia technology with MediaTek's custom AI chip business as well as other areas such as PCs and cars.
TL;DR
- MediaTek's stock rose 10% after announcing a partnership with Nvidia.
- Nvidia invested $3.5 billion in convertible bonds issued by MediaTek.
- The partnership will integrate Nvidia's NVLink Fusion platform with MediaTek's custom AI chips.
- Both companies will collaborate on local AI computing for PCs and automotive systems.
- MediaTek is diversifying from smartphone chips into the data center market.