New Delhi, Dec. 29 -- Intel shares edged higher to $36.29 in pre-market trade on the Nasdaq on Monday, December 29, after the company announced that it had completed the sale of 214.8 million shares to Nvidia Corporation for $5 billion on Friday.

Intel completed the sale of more than 214 million of its common shares to Nvidia at a price of $23.28 each, according to a filing with the Securities and Exchange Commission.

In September, Nvidia committed to investing $5 billion in Intel stock and to co-develop multiple lines of data center and PC technologies, with the aim of advancing artificial intelligence capabilities.

The funds were received in cash, and the transaction was executed under a Securities Purchase Agreement.

The deal repre...