Nvidia acquired Intel shares for $5 billion — companies expand strategic collaboration
Nvidia and Intel are expanding their strategic collaboration, and today the most valuable company in the world purchased a significant share of its partner's stock, thereby rescuing it from a tough financial situation.
What's known
Under the Incredible partnership - Intel to release processor with built-in Nvidia video core made in the fall of this year, Jensen Huang's company acquired 214.7 million Intel shares for $5 billion (the price of one share was $23.28).
Tech market giants plan to develop Nvidia's AI infrastructure using top Intel processors and also release custom Intel processors with Nvidia graphics cores.
It's still unknown what share of Intel Nvidia received, but the deal has already been approved by U.S. regulators, and its sum looks like a secure investment in the future.
Incidentally, Intel claims that despite the need to expand production lines, the company will not postpone or slow down its own projects and has already updated its roadmap.
Source: Reuters
