[SINGAPORE] Shares of AEM jumped as much as 18.5 per cent on Friday (Sep 19) following overnight news of Nvidia’s US$5 billion investment in chipmaker Intel.
The counter soared to S$1.86 as at the midday break, with about 22.4 million shares changing hands at that time. The price was S$0.29 up from its previous closing price of S$1.57, a new high since July 2024.
Intel has been a long-time customer of AEM. The US chip giant has its main test and assembly outside the US.
On Thursday, Nvidia and Intel announced that they will jointly design chips for personal computers (PCs) and data centres. 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 hardware-focused data centre products.
