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  • 6 weeks ago
Nvidia has purchased Intel shares worth $5 billion, the American semiconductor firm said in a filing on Monday, carrying out a transaction announced in September.
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00:00On a separate news, Nvidia has purchased Intel shares worth $5 billion, the American semiconductor firm said in filing on Monday, carrying out a transaction announced in September.
00:10The 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.
00:28The 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.
00:40U.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.
00:49Nvidia shares were down 1.3% in pre-market trading, while Intel stock was little changed.
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