Nvidia announced it is buying a $5 billion stake in Intel and partnering with the chipmaker to develop PC and data center chips.

The deal boosted Intel shares over 30% and Nvidia shares about 3%. Coming weeks after the U.S. government and Japan’s SoftBank invested in Intel, the move positions Intel more prominently in the AI race.

Analysts say the partnership strengthens U.S. leadership in AI, helping Intel recover after years of struggles, while Nvidia continues expanding its global AI and data center investments, NBC News has reported.