AMD and Intel announce alliance to fight NVIDIA

Chip makers - AMD (AMD.O) and Intel (INTC.O) (INTC.O) announced an alliance Monday to help the two companies fight Nvidia (NVDA.O ).

After the alliance, AMD's semi-custom graphics chip will be integrated into Intel's new multi-chip processor for PCs.

AMD shares closed up 7.28% at $ 11.93, Intel gained 1.37% at $ 46.70 and Nvidia edged 0.45% to $ 209.63.