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.
The deal has been widely viewed as an important source of funding for Intel, which has come under financial pressure after a series of strategic missteps and heavy spending on new manufacturing capacity.
The filing confirms that the full investment has now been executed at the previously agreed price. Nvidia is the world’s most valuable listed company and a dominant supplier of chips used in artificial intelligence systems.
The investment had already received regulatory clearance, with US antitrust authorities giving approval earlier this month, according to a notice from the Federal Trade Commission.
In early trading, Nvidia shares were down 2%, while Intel Corp (NASDAQ:INTC, XETRA:INL) stock was little changed, suggesting the market reaction to the confirmation was muted.