Intel (NASDAQ: INTC) faced a setback in its foundry comeback story a few days ago when reports emerged that AI giant Nvidia (NASDAQ:NVDA) was halting tests on Intel's most advanced manufacturing process, Intel 18A. The news caused Intel's stock to drop by as much as 4% in early trading, though it later regained some ground later in the day.
Nvidia has purchased $5 billion in Intel shares as part of a larger tech partnership. Intel confirmed the purchase of 214.7 million shares in a securities filing Monday (Dec. 29), concluding a deal first announced in September.
Intel (NASDAQ: INTC) remains in focus following reports that its 18A process has failed to meet Nvidia's (NASDAQ: NVDA) expectations. According to anonymous sources that spoke with Reuters last week, the setback has made NVDA decide against using that node to manufacture its advanced chips.
Nvidia Corp (NASDAQ:NVDA, XETRA:NVD) has completed a $5 billion investment in Intel, buying more than 214.7 million shares in a private placement, according to a regulatory filing published on Monday. The transaction follows an agreement announced in September, under which Nvidia agreed to pay $23.28 per Intel share.
Nvidia has purchased Intel shares worth $5 billion, the American semiconductor firm said in a filing on Monday, carrying out a transaction announced in September.
StocksGuide is the ultimate tool for easily finding, analyzing and tracking stocks. Learn from successful investors and make informed investment decisions. We empower you to become a confident, independent investor.