Qualcomm rival MediaTek has surged 10% after securing a $3.5 billion deal with Nvidia to integrate the company's technology with its custom AI chip business, as well as PCs and cars.[1348382][1206374] The partnership, which was first announced in August, will see the two companies work together to develop and integrate Nvidia's AI technology with MediaTek's chip designs.[1348382] This deal marks a significant milestone in Nvidia's efforts to expand its presence in the rapidly growing AI chip market, which is expected to see significant investment in the coming years.[1348382] Mediatek, which has been a major player in the chip design industry, will also benefit from the partnership, which will help it to stay competitive in the market.[1348382] The deal is part of a broader trend in the tech industry, where companies are increasingly looking to integrate AI technology into their products and services.[1348382]