Intel finally got its hands on Nvidia’s $5 billion investment pledge, setting up what could be a turnaround for the beleaguered U.S.-based chip giant.

Intel noted in a Securities and Exchange Commission (SEC) filing that it had completed the sale of more than 214.7 million shares of its common stock to Nvidia for $23.28 per share, or an aggregate of $5 billion. That per-share price was significantly lower than the approximately $36 per share price Intel’s stock was trading for at the time of the SEC filing on the sale.

The investment was initially announced in mid-September, and was tied to an agreement for joint development of custom data center and PC hardware. The per-share price was in line with where Intel’s stock was trading at that time, but has since seen the company’s stock trade for more than $35 per share.

The initial investment included work to connect Nvidia and Intel architectures using Nvidia’s NVLink technology, with Intel set to build custom x86 CPUs that will integrate into Nvidia AI infrastructure platforms. For the personal computing segment, Intel will produce x86 system-on-chips (SOCs) that integrate with Nvidia RTX GPU chiplets for inclusion in PCs.

That investment came less than a month after the U.S. government took a 9.9% stake in Intel, with an option to purchase another 5%. That investment, which came after a high-profile battle with President Donald Trump, included $5.7 billion from funds that would have been awarded to the company through the CHIPS Act, and $3.2 billion from funds under the Secure Enclave program.

Intel has since been aggressive in reorienting its operations. This includes potentially maintaining its Networks and Edge Group (NEX) as a way to more tightly integrate its silicon, software, and systems platforms as it looks to target AI, data center and edge opportunities.