US Government’s Intel Stake Worth $13 Billion After Nvidia Deal

The US government’s bet on Intel Corp. is paying off in a big way after a surprise investment from Nvidia Corp. sparked the biggest rally in the chipmaker’s shares in nearly four decades.

Intel shares soared 23% on Thursday after the firm announced that Nvidia had agreed to invest $5 billion in the company and co-develop chips for PCs and data centers. The move comes less than a month after President Donald Trump sealed a deal for a roughly 10% US government stake in Intel.

Thursday’s surge in Intel shares pushed the stock to $30.57, boosting the value of the ...