There are two scenarios here. In one, the AI bubble bursts (so Nvidia is overpriced now) and almost any value stock deal is good for them. In the other, it doesn't, and this gives them a limited hedge against problems with their most critical strategic partner (TSMC).

It looks like a good deal either way and in any amount. But of course I am no expert.

I suppose the problem is Intel doesn't actually have the fab capacity anyway. They were building it, but that's all on ice now, and probably wasn't close to TSMC anyway, I'd guess.

This all ignores the near complete lack of product out of their advanced processes as well.