Nvidia and Samsung agree to settle chip patent lawsuits

Meanwhile, the U.S. International Trade Commission was due to announce its final decision this afternoon regarding in a case Samsung had filed against Nvidia.

Nvidia has settled its patent dispute with Samsung Electronics.

The companies agreed to a license a "small number of patents by each company to the other, but no broad cross-licensing of patents or other compensation," according a joint statement released Monday.

In a 2014 lawsuit, graphics chipmaker Nvidia accused Samsung of infringing upon GPU patents covering a range of processing technologies.

Meanwhile, the U.S. International Trade Commission was due to announce its final decision this afternoon regarding in a case Samsung had filed against Nvidia. Samsung's suit, filed a month after Nvidia's, claimed Nvidia had infringed upon patents related to semiconductor buffering and data control.

This agreement means all intellectual property litigation in district court, the U.S. International Trade Commission and the U.S. Patent and Trademark Office will be dismissed, the companies said.