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Data Center News > Blog > Global Market > Who are the winners and losers of the Intel-Nvidia deal?
Global Market

Who are the winners and losers of the Intel-Nvidia deal?

Last updated: September 23, 2025 12:00 am
Published September 23, 2025
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It’s exhausting to overstate the importance of the alliance struck between Intel and Nvidia lately.

Nvidia is dipping into its $56 billion checking account to amass a 5% stake in Intel for $5 billion, making it the second-largest shareholder of Intel inventory after the federal government’s recent investment. It doesn’t get a spot on Intel’s board of administrators, nor does it have any say-so over Intel’s operations and technique. The deal is just a inventory buy to supply funding within the firm, and the funding is for the merchandise division, not the foundry enterprise.

Most importantly, the deal gives Nvidia higher entry to the x86 ecosystem, which is essential for the enterprise information heart market, and it provides Intel entry to GPUs which are in demand and a chance to maneuver its CPU merchandise. Technologically, it brings the 2 corporations a lot nearer collectively – about as shut as two corporations can get wanting a merger, which analysts don’t imagine will occur.

“No, I don’t assume that’s the trail. But it surely might be throughout this administration, if there have been a time and place,” mentioned Anshel Sag, principal analyst with Moor Insights & Technique.

Alvin Nguyen, senior analyst with Forrester Analysis, doesn’t imagine a merger is imminent both. “Other than regulatory hurdles and the at the moment complicated geopolitics, I believe it is a protected funding and partnership to get them some PR, higher entry to the x86 market, and supply their GPU know-how to be included in APUs and SoCs that may attain markets they don’t seem to be established in.”

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In saying the deal, Nvidia CEO Jensen Huang emphasised the consumer side of the deal, saying future Intel chips would have Nvidia GPUs baked into them as an alternative of Intel’s personal GPU know-how. The server enterprise will likely be impacted, as properly.

One factor the analysts agree on: AMD is a loser on this deal.

AMD had the benefit of providing a CPU and GPU mixture that Intel and Nvidia didn’t have individually. The enchantment of that may be seen in supercomputers like Frontier and El Capitan, that are all-AMD designs of CPUs and GPUs working in tandem. Now, the 2 corporations are allied and could have a aggressive providing in due time.

A second space of settlement is that the way forward for Jaguar Shores – Intel’s AI accelerator based mostly on its GPU know-how and the Gaudi AI accelerator – is unsure. “Nvidia already has options right here, and it doesn’t make sense for Intel to work on a redundant product that must be marketed over a longtime one,” mentioned Nguyen.

A big consequence from this deal is that Intel is adopting the Nvidia’s proprietary NVlink high-speed interconnect protocols. “Because of this Intel has primarily decided its capacity to compete head-to-head with Nvidia within the present large-scale AI market, regardless of its greatest efforts, have largely failed,” wrote Jack Gold of J. Gold Associates in a research note.

Gold notes that Nvidia already makes use of a couple of Xeon information heart chips to energy its largest programs, and the x86 chips present many of the controls and pre-processing that its large-scale GPU racks require. By accelerating the efficiency of the Xeon, the GPU advantages as properly.

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That leaves a query mark hanging over Nvidia’s Arm CPUs, which is more likely to proceed for “area of interest areas,” Gold wrote. “However with this announcement, it now appears to confess that working with a longtime participant like Intel is a greater long-term wager for CPUs.”

So will Nvidia will proceed its efforts within the Arm area, realizing that it has direct entry to beefy x86 know-how?

Sag mentioned Nvidia’s Arm efforts will proceed. “Nvidia has made it abundantly clear that Arm is transferring ahead as deliberate, particularly since Nvidia remains to be constructing Arm for its personal CPUs,” he mentioned.

Such a deal as this appeared unattainable 15 to twenty years in the past; the acrimony between the 2 corporations was an excessive amount of. However at present, Nvidia’s Huang is buddies with Intel’s newest CEO, Lip-Bu Tan. And why not? In spite of everything, Nvidia got here out on prime on this deal.

“Typically enemies develop into better of mates when there may be cash to be made,” mentioned Gold.

Extra Intel information:

  • Intel touts effectivity and efficiency in new 288-core Xeon processor
  • Intel warns US govt equity stake could disrupt its global business and strategic deals
  • As US takes 10% stake in Intel, new questions arise for enterprise buyers

Extra Nvidia information:

  • Nvidia reportedly acquires Enfabrica CEO and chip know-how license
  • Nvidia rolls out new GPUs for AI inferencing, giant workloads
  • Nvidia networking roadmap: Ethernet, InfiniBand, co-packaged optics will form information heart of the long run

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TAGGED: deal, IntelNvidia, losers, Winners
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