Nvidia said on Thursday that it would buy $5 billion worth of Intel’s common stock, becoming another major shareholder in the beleaguered company just weeks after the US government took a roughly 10% stake.
The tech giant, which makes artificial intelligence chips, will pay $23.28 per share, it said in a joint press release. The purchase will give Nvidia around 4% or more of Intel after new shares are issued to complete the deal, Reuters reported.
Last month, US President Donald Trump and Intel announced that the government was making an $8.9 billion investment in Intel’s common stock, calling it “a Great American Company that has an even more incredible future.” “This is a great Deal for America and, also, a great Deal for INTEL,” Trump wrote on Truth Social at the time.
The investment is part of the Trump administration’s efforts to boost semiconductor manufacturing in the United States and cement America’s position as a leader in the global chipmaking industry.
Trump has said that he plans to impose 100% tariffs on imported semiconductors, excluding suppliers that have committed to building products in the United States.
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