Chip maker Intel Corp. said Friday that its investment arm will team with China's sovereign wealth fund to invest in new technology.

The company said Intel Capital and China Investment Corp. will find companies in a variety of technology sectors to invest in outside of China.

Intel, the world's biggest provider of chips that run personal computers, did not say how much it plans to invest through the partnership or when it will start. Intel Spokeswoman Amy Kircos said the company was not ready to provide more details.

Intel shares rose 42 cents, or 2.1 percent, to $20.48 in afternoon trading Friday.