Bloomberg: Intel in talks with AMD to license GPU patents

• Bloomberg reports Intel (NASDAQ:INTC) is in talks with AMD to license its smaller rival's GPU patents.
• The report comes with Intel's cross-licensing deal with Nvidia (NASDAQ:NVDA) due to expire in Q1 2017. Nvidia has been recording $66M/quarter in licensing revenue related to the Intel deal, which allows Intel to use Nvidia's IP in the GPUs integrated with its CPUs.
• AMD is up 6.1% after hours to $2.79. Nvidia is down 0.7% to $32.87.