Key Takeaways
- Intel and Arm announced an agreement Friday to collaborate on an initiative providing financial, manufacturing, and intellectual property support to startups.
- The companies suggested the move could help propel AI innovation.
- As competition in the AI space heats up, Arm, Intel, and other key players such as Nvidia have invested significantly in startups.
Intel ( INTC ) and chip designer Arm ( ARM ) said Friday the companies finalized an agreement to collaborate on an initiative providing financial, intellectual property (IP) , and manufacturing support to startups .
The collaboration, called the Emerging Business Initiative, was first announced at last month’s Intel Foundry conference and builds on a partnership established last April, in a move the companies suggested could help propel innovation in artificial intelligence (AI) .
“Startups play a crucial role in bringing the great promise of transformations like AI to reality. The Emerging Business Initiative provides a path for new companies to leverage leading-edge Arm-based SoCs and Intel Foundry’s global manufacturing capabilities to make their ideas real,” Intel Senior Vice President and General Manager of Foundry Services Stuart Pann said in a release.
Arm and Intel have both benefitted from booming demand for AI, and as competition in the space heats up, they along with other key players such as Nvidia ( NVDA ) have invested significantly in startups as part of their efforts to strengthen their positions as new technology develops rapidly.
Intel shares finished 0.4% higher at $42.57 Friday, while Arm shares gained 0.4% to $134.15. Shares of Intel have surged about 46% over the last 12 months, and Arm shares have more than doubled in value since the company went public in September .