Skadden Steers Intel in $5 Billion Stake to AI Behemoth Nvidia

Lawyers from Skadden advised Intel Corp. in its sale of a $5 billion stake in the company to artificial intelligence chipmaker Nvidia.

Skadden’s team guiding Intel in the Nvidia transaction includes capital markets partners Michelle Gasaway and Gregg Noel.

As part of the deal, Intel will use Nvidia’s graphics technology in PC chips and provide its processors for data center products built around Nvidia hardware.

The deal is a big boost for Intel, which in August agreed to give the US government a 10% equity stake, an arrangement that Skadden also steered.

The government investment comes nearly five months after the firm pledged $100 million in free legal services in a controversial deal with the White House.