Dec 29 (Reuters) - Nvidia (NVDA.O) has purchased Intel shares worth $5 billion, the American semiconductor firm (INTC.O) said in a filing on Monday, carrying out a transaction announced in September.
The leading AI chip designer said in September it would pay $23.28 per share for Intel common stock, in a deal that is seen as a major financial lifeline for the chipmaker after years of missteps and capital intensive production capacity expansions drained its finances.
The world’s most valuable firm has bought over 214.7 million Intel shares at the price set out in the September agreement, in a private placement, according to Monday’s filing.
U.S. antitrust agencies had cleared Nvidia’s investment in Intel, according to a notice posted by the U.S. Federal Trade Commission earlier in December.
Nvidia shares were down 1.3% in premarket trading while Intel stock was little changed.

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Nvidia has acquired $5 billion worth of Intel shares, executing a September agreement to purchase over 214.7 million shares at $23.28 each. This investment is viewed as a crucial support for Intel, which has faced financial challenges. The deal received clearance from U.S. antitrust agencies. Following the announcement, Nvidia's shares fell by 1.3% in premarket trading, while Intel's stock remained stable.

- Nvidia has purchased $5 billion in Intel shares, acquiring over 214.7 million shares at $23.28 per share as part of a deal announced in September.  
- This transaction is viewed as a vital financial support for Intel following its recent struggles with production costs and past missteps.  
- The U.S. antitrust agencies have approved Nvidia's investment, though Nvidia's shares declined 1.3% in premarket trading.

Reuters

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Nvidia takes $5 billion stake in Intel under September agreement