According to a filing released today, Nvidia has purchased $5 billion worth of Intel shares, completing a transaction announced in September.
In September, the American semiconductor company announced it would acquire Intel common stock at $23.28 per share. This deal is considered a crucial financial boost for Intel, which has faced years of setbacks and costly expansions of its production capacity that have depleted its funds.
Today, Nvidia acquired more than 214.7 million Intel shares at the price specified in the September agreement through a private placement.
NVIDIA founder and CEO, Jensen Huang, told investors, “AI is powering a new industrial revolution and reinventing every layer of the computing stack — from silicon to systems to software. At the heart of this reinvention is NVIDIA’s CUDA architecture. This historic collaboration tightly couples NVIDIA’s AI and accelerated computing stack with Intel’s CPUs and the vast x86 ecosystem — a fusion of two world-class platforms. Together, we will expand our ecosystems and lay the foundation for the next era of computing.”
Lip-Bu Tan, CEO of Intel, stated, “Intel’s x86 architecture has been foundational to modern computing for decades — and we are innovating across our portfolio to enable the workloads of the future. Intel’s leading data center and client computing platforms, combined with our process technology, manufacturing and advanced packaging capabilities, will complement NVIDIA’s AI and accelerated computing leadership to enable new breakthroughs for the industry. We appreciate the confidence Jensen and the NVIDIA team have placed in us with their investment and look forward to the work ahead as we innovate for customers and grow our business.”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.
U.S. antitrust authorities approved Nvidia’s investment in Intel, as announced by the U.S. Federal Trade Commission in December.
Today, Nvidia shares declined by 1.3% in premarket trading, while Intel’s stock remained largely unchanged.
By CEO NA Editorial Staff
