[SINGAPORE] Shares of AEM jumped as much as 12.1 per cent on Friday (Sep 19) shortly after market opened, following overnight news of Nvidia’s US$5 billion investment in chipmaker Intel.
The counter soared to S$1.76 as at 10.09 am, S$0.19 up from its previous closing price of S$1.57. Nearly 12 million shares had changed hands at that time.
Intel has been a long-time customer of AEM. The US chip giant has its main test and assembly outside of the US.
On Thursday (Sep 18), Nvidia and Intel announced that they will jointly design chips for personal computers (PCs) and data centers. Nvidia will purchase Intel common stock at US$23.28 per share.
As part of the investment, Intel will use Nvidia’s graphics technology in its PC chips and also provide its processors for Nvidia harware-focused data center products.
