Nvidia closed at a record $208.27 on the 24th, pushing its market capitalization above $5.09 trillion for the first time at the close. On the same day, Intel shares surged 23.6% to $82.55 after first-quarter results came in well ahead of expectations, sharply lifting the value of Nvidia’s earlier investment in the chipmaker.
According to the source material, Nvidia bought about 215 million Intel shares last September at a private placement price of $23.28 per share, for a total cost of $5 billion. Based on Intel’s latest closing price, that stake is now worth about $17.7 billion, leaving Nvidia with an unrealized gain of roughly $12.7 billion and a return of 255%. Before Intel released its earnings, the gain on the position was about 155%.
Intel earnings triggered a sharp repricing
Intel reported Q1 revenue of $13.6 billion, beating expectations by 9%. Its non-GAAP EPS came in at $0.29, compared with a market expectation of -$0.01. The earnings surprise drove a powerful move in Intel shares and, by extension, a rapid jump in the marked-to-market value of Nvidia’s holdings. Using the figures provided in the source, the investment’s return moved from roughly 155% earlier this month to 255% after the earnings reaction.
Nvidia extends lead in market value
Nvidia rose 4.32% on the day, surpassing its previous record close of $207.02 set on October 29 last year. The source says its market value reached $5.09 trillion, about $1 trillion ahead of Alphabet.
Chip stocks also climbed broadly. The Philadelphia Semiconductor Index posted a record 18th straight gain, while AMD advanced 13.9%. The source also points to Nvidia’s March GTC update, where the company said preorders for Blackwell and Vera Rubin through 2027 had reached $1 trillion, up from an earlier estimate of $500 billion. It also cited deals involving 18,000 Blackwell chips for Saudi Arabia and more than 1 million advanced chips for the UAE. Nvidia shares were up about 20% in April, erasing the first-quarter decline.
The Intel deal also includes product development
The investment was described as more than a financial position. The source says the deal was announced in September 2025 and completed in December. Under the arrangement, the two companies will work on two product lines: a custom x86 data center CPU built by Intel for Nvidia with integrated NVLink, and a PC SoC integrating RTX GPU chiplets.