AEM soars 17.8% on the back of Nvidia’s US$5 billion Intel investment

[SINGAPORE] Shares of AEM jumped as much as 19.1 per cent on Friday (Sep 19) following overnight news of Nvidia’s US$5 billion investment in chipmaker Intel, eventually closing 17.8 per cent up.

The counter soared to an intraday peak of S$1.87 shortly after the midday break. The price was S$0.30 up from its previous closing price of S$1.57.

It pared some gains by market close to end at S$1.85, a new high since July 2024, with more than 31 million shares having changed hands.

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.