Tech heavyweight has successfully closed a $5 billion stake in chip-making firm Intel, after previously announcing it planned to buy shares in the firm in September, as per an official filing.
The 8-K form shows NVIDIA has purchased a total of 214,776,632 shares of the company at a price point of $23.28 per share.
The initial filing boosted Intel’s share price by 25%. The terms of the agreement are expected to see both companies build and develop valuable infrastructure for each other. As part of the deal, Intel was supposed to get the opportunity to design CPUs and integrate NVIDIA’s graphics and AI chips in certain products.
Not every investment fund or firm is bullish on NVIDIA, with Peter Thiel’s fund and SoftBank offloading their shares in the AI infrastructure firm ahead of its strong Q3 earnings report.
According to Reuters, the investment in Intel was cleared by U.S. antitrust agencies.
At the time of writing, NVIDIA and Intel’s shares were priced at $190.53 and $36.20, respectively.