CNBC: Nvidia spent five billion dollars to purchase shares of Intel.
Nvidia purchased shares of Intel for five billion dollars. This was reported by CNBC.
It is noted that back in September, the most expensive company in the world promised to pay $23.28 per share for Intel's securities, which represents significant support for the company, as the tech giant has seriously weakened due to misguided policies of years of expanding production capacity, which drained its finances.
Nvidia acquired over 214.7 million shares of Intel. Following this, Nvidia's shares fell by 1.3 percent, while Intel's shares remained virtually unchanged.
At the end of summer, it was reported that the White House was discussing with Intel the possibility of acquiring a stake in the company. The implementation of such a deal would mean that U.S. authorities could become the largest shareholder of Intel without participating in shareholder votes or managing the company's operations. These news followed statements from U.S. President Donald Trump, who demanded that Intel CEO Lip-Bu Tan resign immediately due to a conflict of interest amid suspicions of the executive's ties to China.
