Nvidia (NASDAQ:NVDA) announced that it signed a new six-year cross-licensing agreement with Intel (NASDAQ:INTC), according to a Bloomberg report.
Intel will pay the company an aggregate of $1.5 billion in licensing fees payable in five annual installments, beginning January 17. Nvidia and Intel have also agreed to drop all outstanding legal disputes between them.
Nvidia will retain use of Intel's patents, consistent with its existing agreement with the company, excluding Intel's proprietary processors, flash memory or certain chipsets for the Intel platform.
Nvidia is currently above its 50-day moving average (MA) of $14.19 and above its 200-day of $12.65.
In the last five trading sessions, the 50-day MA has climbed 4.27% while the 200-day MA has remained constant.
NVIDIA Corporation designs, develops, and markets three dimensional (3D) graphics processors and related software. The Company's products provide interactive 3D graphics to the mainstream personal computer market.
Write to Chip Brian at cbrian@tradethetrend.com
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