Nvidia, Amkor Launch $1.5 Billion AI Chip Partnership as Amkor Shares Jump 11%
Updated
Updated · CNBC · Jul 24
Nvidia, Amkor Launch $1.5 Billion AI Chip Partnership as Amkor Shares Jump 11%
3 articles · Updated · CNBC · Jul 24
Summary
$1.5 billion is the size of Nvidia and Amkor's multiyear partnership to develop advanced semiconductor packaging and testing for next-generation AI and accelerated computing.
Amkor shares rose more than 11% after the announcement, while UBS upgraded the stock to buy from hold and lifted its price target to $90 from $80.
The deal lands as investors scrutinize heavy AI infrastructure spending, a concern that helped pressure stocks alongside higher oil prices and bond yields.
Chip demand remains strong across AI hardware: Intel said data center CPU supply cannot keep up as agentic workloads increase CPU needs relative to AI accelerators.