The market may not have fully absorbed this news when it crossed the tape a couple days ago.*
From Yahoo Finance, February 20:
Nvidia (NVDA) has sealed an expanded, multiyear data center agreement with Meta (META) that will see the chipmaker supply the social media giant with millions of its Blackwell and Rubin GPUs.
And while that was certainly the splashiest part of Tuesday's news, the companies said the agreement will also see Meta roll out Nvidia Grace CPU-only servers in its data centers, the first large-scale deployment of the chips.
Grace is the processor that Nvidia pairs with two Blackwell or two Blackwell Ultra GPUs to form its GB200 and GB300 AI superchips.
The Grace-only servers come at a time when Nvidia is angling to capitalize on the growing demand for traditional CPUs as hyperscalers increasingly look to the chips to help power some AI inferencing and agentic AI applications.
That spells trouble for Intel (INTC), which has long dominated the data center CPU space, and Advanced Micro Devices (AMD), which is working to take market share from Intel.
"Nvidia has been on the path of providing more of the content in the data center for a while," Gil Luria, managing director and head of technology at D.A. Davidson, told Yahoo Finance.
"The addition of Mellanox [a networking company Nvidia acquired in 2020] put them into the networking category as well," he said. "So when they sell into the data center, they're actually selling almost a vast majority of the value. But it makes sense for them to increase that value even further by adding CPU capacity."
Nvidia's move couldn't come at a worse time for Intel, which is dealing with capacity constraints that are keeping it from producing enough CPUs to meet data center builders' demand....
....MUCH MORE
*February 18 - "Why Nvidia’s deal with Meta is an ‘Intel killer,’ according to this analyst" (NVDA; META; ARM; INTC; AVGO)
Here's the last month of INTC price action via TradingView: 
