NEW YORK, December 29, 2025, 11:19 ET — Regular session
- Intel shares were up 0.5% at $36.39 in late morning trading.
- A filing showed Intel completed a $5 billion private sale of 214.8 million new shares to Nvidia at $23.28 each. 1
- Investors are weighing the cash boost against dilution, and watching for updates on the companies’ joint chip roadmap. 2
Intel Corp (INTC.O) shares edged higher on Monday after the chipmaker disclosed that Nvidia (NVDA.O) has completed a $5 billion purchase of newly issued Intel stock. 1
The closing matters because it turns a headline partnership into cash on Intel’s balance sheet at a time the company is spending heavily and trying to regain momentum in PCs and data-center processors. 3
It also crystallizes a key trade-off for existing shareholders: the stock was sold at a fixed $23.28 per share, far below Intel’s current trading level, increasing dilution even as it brings in fresh capital. 1
In a Form 8-K, Intel said it completed the issuance and sale of 214,776,632 shares to Nvidia for $5.0 billion in cash, or $23.28 per share. 1
Intel said the sale was carried out under a securities purchase agreement dated Sept. 15 and structured as a private placement — a sale to a single investor outside a public offering — relying on an exemption from registration requirements. 1
A Reuters report said U.S. antitrust agencies cleared Nvidia’s investment earlier in December, removing a regulatory overhang on the deal. 3
Intel’s move came as the broader market slipped, with the Nasdaq-heavy Invesco QQQ down 0.6% and the SPDR S&P 500 ETF down 0.4%.
Chip stocks were broadly weaker, with the iShares Semiconductor ETF down about 1% and Nvidia down about 2% on the day.
The deal price implies a discount of roughly 36% to Intel’s prior close, based on Monday’s trading. 1
When the partnership was announced in September, Nvidia said Intel would design custom x86 data-center CPUs that Nvidia would package with its AI chips, using NVLink — Nvidia’s proprietary high-speed link that lets chips exchange data faster. 2
For PCs, Nvidia said Intel planned x86 system-on-chips that integrate Nvidia RTX graphics “chiplets,” or smaller silicon building blocks combined in a single package. 2
“Together, we will expand our ecosystems and lay the foundation for the next era of computing,” Nvidia CEO Jensen Huang said at the time. 2
Reuters reported in September that the investment would leave Nvidia with roughly 4% of Intel after the new shares were issued, putting the AI chipmaker among Intel’s largest shareholders. 4
Investors are now looking for concrete product timelines — which the companies did not provide when they first outlined “multiple generations” of joint chips — and for signs the relationship expands further into Intel’s contract manufacturing business, known as a foundry. 4
