Nvidia will use the $5 billion that it plans to invest in Intel to buy common stock for $23.05 per share. That’s a more than 5% discount to the latter company’s Wednesday closing price. The deal is poised to give Nvidia an approximately 4% stake in Intel, which will make it one of the chipmaker’s largest shareholders.

Correlation isn't causation, and it's unlikely that Intel and Nvidia could have thrown together a $5 billion deal and product collaboration in the space of less than 24 hours. But Nvidia could be looking to prop up US-based chip manufacturing as a counterweight to China's actions.

Nvidia has announced a new partnership with Intel to work on custom data centers and personal computer products.