"Nvidia says it will invest $5bn into Intel, throwing its heft behind the struggling US chip company, but has stopped short of giving Intel a crucial manufacturing deal. Nvidia, which is based in Santa Clara, California, announced the investment on Thursday. list of 4 itemsend of list The pact, which also includes a plan for Intel and Nvidia to jointly develop personal computer and data centre chips, represents a potential risk to Taiwan's TSMC."
"Nvidia, whose must-have chips are powering a global artificial intelligence boom, said in a statement it will pay $23.28 per share for Intel common stock, a price slightly below the $24.90 at which Intel shares closed on Wednesday. However, that is higher than the $20.47 price per share that the United States government paid for a 10 percent stake it took in Intel last month, an extraordinary development. The White House has denied any involvement in the deal."
Nvidia will invest $5 billion in Intel and will pay $23.28 per share for Intel common stock. The investment will make Nvidia one of Intel’s largest shareholders, likely owning four percent or more after new shares are issued. The pact includes plans for Intel and Nvidia to jointly develop personal computer and data centre chips but stops short of granting Intel a crucial manufacturing deal. The move creates potential risks for Taiwan’s TSMC and competitive impacts for AMD. The United States government previously paid $20.47 per share for a 10 percent Intel stake. The White House denies involvement.
Read at www.aljazeera.com
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