U.S. semiconductor company Intel said in a filing on Monday that Nvidia had purchased $5 billion worth of Intel stock in a deal announced in September. The leading artificial intelligence chip designer said in September that it would acquire Intel common stock for $23.28 per share. The deal is seen as a significant financial boost for Intel after years of missteps and capital-intensive capacity expansion draining its financial resources.
The world's most valuable company has purchased more than 214.7 million Intel shares through a private placement at a price set in the September agreement, according to Monday's filing.
According to a notice issued by the U.S. Federal Trade Commission (FTC) in early December, the U.S. antitrust agency has approved Nvidia’s investment in Intel.
In premarket trading, Nvidia shares fell 1.3%, while Intel shares were essentially flat.