(CNN) — Nvidia said on Thursday that it would buy $5 billion worth of Intel’s common stock, becoming another major shareholder in the beleaguered company just weeks after the US government took a roughly 10% stake.

The tech giant, which makes artificial intelligence chips, will pay $23.28 per share, it said in a joint press release . The purchase will give Nvidia around 4% or more of Intel after new shares are issued to complete the deal, Reuters reported.

Last month, US President Donald Trump and Intel announced that the government was making an $8.9 billion investment in Intel’s common stock, calling it “a Great American Company that has an even more incredible future.” “This is a great Deal for America and, also, a great Deal for INTEL,” Trump wrote on Truth Social at the time.

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