Search
On December 29, Nvidia (NVDA.O) revealed in a Monday filing that it had finalized the deal announced back in September, snapping up $5 billion worth of Intel (INTC.O) shares. As a frontrunner in artificial - intelligence chip design, Nvidia stated in September that it would buy Intel's common shares at $23.28 per share.
This move is a substantial financial boost for Intel. Over the past few years, Intel has faced a series of setbacks. Moreover, its capital - intensive expansion initiatives have drained its financial resources. According to Monday's filing, Nvidia has acquired over 214.7 million Intel shares via a private placement at the pre - agreed price.
In addition, earlier this month, the U.S. Federal Trade Commission (FTC) announced that U.S. antitrust regulators had given the green light to Nvidia's investment in Intel.
-
C114 Communication Network -
Communication Home
