Nvidia Completes $5 Billion Intel Stake as Intel 18 Testing Report Stirs Doubts

Overview

• Nvidia bought 214.7 million Intel shares on Dec. 29 under a September pact at $23.28 per share, Reuters reported.
• Intel shares rose about 2% after the purchase disclosure, trimming losses from a roughly 3.5% drop following Bloomberg’s report that Nvidia halted 'Intel 18' test runs.
• Bloomberg’s report raised concerns about Intel’s advanced manufacturing roadmap and its ability to compete with TSMC.
• Reuters noted the investment was presented as support for Intel’s efforts to scale production capacity.
• Analyst views remain split, with Bank of America upgrading Intel to Overweight and raising 2025–26 EBITDA estimates, while Truist kept a Hold and another BofA analyst maintained a Sell with a higher price target.