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Chipmaker Nvidia announced a $5 billion investment in Intel, sending the legacy tech company’s stock rallying 30% in premarket trading on Thursday, marking one of its most dramatic turnarounds in recent years.
Deal deets
- ·This deal makes Nvidia one of Intel’s largest shareholders, giving it roughly 4% or more of the company.
- Nvidia is purchasing Intel common stock at $23.28 per share, below Intel’s Wednesday closing price of $24.90.
- It must be noted that the deal will not involve Intel’s contract manufacturing business, known as a “foundry” in the chip…
