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Barchart
Anushka Dutta

A $5 Billion Reason to Buy Intel Stock Here

Intel Corporation Nvidia INTC Barclays Citi United States

The semiconductor industry behemoth, Nvidia (NVDA), has just given investors a new reason to take another look at the beaten-down chip giant Intel (INTC). Nvidia announced that it would buy $5 billion worth of Intel’s stock at a price of $23.28 a share. 

At the news of its rival’s significant stake acquisition, Intel’s shares jumped nearly 23% on Sept. 18, taking the stock to a fresh 52-week high. Intel has been trying to regain its lost glory, as the company appears to have fallen behind the artificial intelligence (AI) boom, unlike other chip producers. 

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