NEW YORK, December 30, 2025, 10:05 ET — Regular session
- Nvidia shares dipped after an Intel filing detailed a $5 billion private share sale to Nvidia.
- Intel shares rose, while broader tech trade was little changed.
- Investors are also parsing Nvidia’s separate Groq licensing move aimed at faster AI “inference” chips.
Shares of Nvidia (NVDA.O) slipped on Tuesday after Intel disclosed in a regulatory filing that Nvidia completed a $5 billion purchase of Intel stock in a private placement. Nvidia was down 0.2% at $187.89, while Intel (INTC.O) rose 1.5% to $37.24.
The filing matters because it tightens the relationship between the dominant supplier of AI accelerators and a chipmaker still deeply embedded in PCs and data centers. Investors are watching whether the partnership translates into products quickly enough to shift server road maps and spending in 2026.
It also lands as competition in AI hardware broadens beyond training large models to inference — the work of running trained models to generate answers — where buyers are pushing for lower costs per query and faster response times.
Intel said the transaction was completed on Dec. 26 and covered 214,776,632 shares sold to Nvidia for $5.0 billion in cash, or $23.28 per share. Intel said the sale was done under a securities purchase agreement dated Sept. 15 and relied on an exemption for non-public offerings.
Reuters reported on Monday that the purchase carried out a transaction announced in September and noted U.S. antitrust agencies had cleared Nvidia’s investment, citing a notice posted by the Federal Trade Commission earlier in December.
When the deal was unveiled in September, Reuters reported Nvidia’s investment would make it one of Intel’s largest shareholders and the two companies planned to jointly develop PC and data-center products. Reuters also reported the pact would not involve Intel’s foundry making Nvidia’s computing chips, though Intel would supply central processors and advanced packaging for the joint products.
That earlier report highlighted why the tie-up drew attention in the AI server race: linking chips at high speed is critical because many processors must work together as one system. Reuters said the plan included a proprietary Nvidia technology to let Intel and Nvidia chips communicate at higher speeds than before.
The Intel stake update also comes as investors continue to weigh Nvidia’s separate tie-up with AI chip startup Groq, which focuses on inference. Groq said last week it entered a non-exclusive licensing agreement with Nvidia and that Groq founder Jonathan Ross, Groq president Sunny Madra and other team members would join Nvidia, while Groq would continue as an independent company led by new CEO Simon Edwards.
Analysts have framed the Groq move as part of Nvidia’s push to defend its position as AI workloads shift. Truist analyst William Stein said the move was designed “to fortify NVDA’s competitive positioning, specifically vs. the TPU” — a reference to Google’s in-house Tensor Processing Unit chips. Investing.com
Other AI-exposed chip stocks were mixed. Advanced Micro Devices was up 0.2% and Broadcom rose 0.4%, while the Nasdaq-tracking Invesco QQQ ETF was little changed.
Traders now look for any follow-on disclosures around the Intel partnership and whether Nvidia signals a clearer timetable for joint products. Investors are also watching how aggressively Nvidia leans into inference, where specialized architectures are gaining mindshare as buyers chase lower latency and cost.
Nvidia’s investor relations calendar shows its fourth-quarter financial results are scheduled for Feb. 25, 2026, a date that could sharpen the market’s focus on demand signals, margins and capital spending tied to AI infrastructure.
