S&P 500 Futures added 0.2% to 6,704.75 points, Nasdaq 100 Futures gained 0.2% to 24,747.75 points, while Dow Jones Futures edged 0.2% higher to 46,601.0 points

U.S. stock futures inched higher on Thursday evening after stock indexes logged record-high closes, lifted by a surge in Intel following a $5 billion investment from Nvidia and relief over the central bank’s first rate cut since December.

S&P 500 Futures added 0.2% to 6,704.75 points, while Nasdaq 100 Futures gained 0.2% to 24,747.75 points by 00:16 GMT. Dow Jones Futures also edged 0.2% higher to 46,601.0 points.

Intel shares jumped more than 22% after Nvidia said it would buy a $5 billion stake in the chipmaker and work together on data centre and PC processors.

The tie-up aims to combine Intel’s x86 architecture and manufacturing base with Nvidia’s graphics and AI platforms, easing investor concerns about Intel’s competitiveness.

This agreement comes a few weeks after the White House engineered a deal for the U.S. government to take a big stake in the company. Nvidia’s support represents a new opportunity for Intel after years of turnaround efforts at the famed U.S. manufacturer failed to yield results.

The move also helped steady sentiment around Nvidia, which had slumped earlier in the week after the Financial Times reported that Chinese regulators instructed its technology firms to halt purchases of its AI chips.

That directive, seen as part of Beijing’s drive to bolster semiconductor capabilities, raised fears of a sharp hit to Nvidia’s sales in one of its most important markets.

The broader market drew additional support from the U.S. central bank’s decision on Wednesday to cut its benchmark rate by 25 basis points to a range of 4.00% to 4.25%.