Nvidia takes $5B in Intel shares as major financial lifeline for chipmaker | Latest Tech News
Nvidia has bought Intel shares price $5 billion, the American semiconductor firm said in a submitting on Monday, finishing up a transaction announced in September.
The main AI chip designer said in September it could 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 manufacturing capability expansions drained its funds.
The world’s most precious firm has purchased over 214.7 million Intel shares at the price set out in the September settlement, in a personal placement, according to Monday’s submitting.
Nvidia in September agreed to pay $23.28 per share for more than 214.7 million shares of Intel common stock. ZUMAPRESS.com
The deal is seen as a major financial lifeline for the Intel after years of missteps. Bloomberg via Getty Images
NVIDIA CEO Jensen Huang speaks during a tech event. AFP via Getty Images
U.S. antitrust businesses had cleared Nvidia’s investment in Intel, according to a discover posted by the U.S. Federal Trade Commission earlier this month.
Nvidia shares have been down 1.8% in trading, while Intel stock was 0.4% larger.
Stay informed with the latest in tech! Our web site is your trusted source for breakthroughs in artificial intelligence, gadget launches, software program updates, cybersecurity, and digital innovation.
For recent insights, skilled coverage, and trending tech updates, go to us frequently by clicking right here.
