NVIDIA has purchased Intel shares worth $5 billion, according to a regulatory filing made public on Monday.
The transaction follows an agreement that was first announced in September.
The AI chipmaker agreed to pay $23.28 per share for Intel’s common stock. The deal is widely regarded as a significant financial boost for Intel, which has faced numerous challenges in recent years.
Costly manufacturing expansions and strategic missteps have put pressure on the company’s finances, making Nvidia’s investment a significant development for the struggling chipmaker.
According to the filing, Nvidia bought more than 214.7 million Intel shares through a private placement, using the price agreed upon in September. This confirms that the transaction has now been fully carried out as planned.
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