NVIDIA SPENDS $5B ON INTEL BAILOUT, INSTANTLY GETS $2.5B RICHER

Summary from the TLDR newsletter

Nvidia locked in a purchase price of $23.28 per share for Intel when the companies struck a deal in September. The deal had been under scrutiny by the US Federal Trade Commission, but was then greenlighted on December 18. The purchase of 214 million shares closed on December 26, and Intel shares closed Monday at $36.68, making Nvidia's $5 billion purchase worth $7.58 billion. The deal will involve the companies jointly developing multiple generations of chips for datacenters and PCs.