Nvidia gives Intel a lifeline with $5 billion common stock deal — September deal gets FTC approval for more than 217.4 million Intel shares at $23.28 per share

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Back in September, Nvidia announced a historic equity investment into Intel worth $5 billion, joining the U.S. government in lending a lifeline to the floundering American chipmaker. Today, Intel has officially sold 214.7 million shares to Nvidia at $23.28 per share, reports Reuters. At the time of the original announcement, that number was 6% above market price, but it’s now 36% below what Intel is currently trading at.

The purchase was cleared by the FTC in early December, so it was only a matter of…



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Nvidia gives Intel a lifeline with $5 billion common stock deal — September deal gets FTC approval for more than 217.4 million Intel shares at $23.28 per share


Back in September, Nvidia announced a historic equity investment into Intel worth $5 billion, joining the U.S. government in lending a lifeline to the floundering American chipmaker. Today, Intel has officially sold 214.7 million shares to Nvidia at $23.28 per share, reports Reuters. At the time of the original announcement, that number was 6% above market price, but it’s now 36% below what Intel is currently trading at.

The purchase was cleared by the FTC in early December, so it was only a matter of…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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