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Intel Completes $5 Billion Share Sale to Nvidia
Source: CryptoBriefing Original Title: Intel completes $5 billion share sale to Nvidia Original Link: https://cryptobriefing.com/intel-share-sale-nvidia/ Intel Corporation completed a $5 billion share sale to Nvidia, issuing approximately 215 million shares at $23.28 per share in a private placement transaction.
The sale is part of a multi-year collaboration between the two companies to co-develop custom data-center CPUs and new PC chips combining Intel x86 designs with NVIDIA RTX GPU chiplets. Intel and NVIDIA entered into the stock purchase agreement in mid-September.
Under the agreement, Intel will manufacture the processors, while NVIDIA integrates them into AI platforms spanning the hyperscale, enterprise, and consumer markets. The effort aims to tightly link Intel CPUs with NVIDIA’s accelerated computing stack via NVLink.
Intel shares ticked up in premarket trading following news that the stock sale had been completed.