Apple and the technology company Nvidia have teamed up to share cash for their joint ventures.
The deal would add to the $60 billion that Apple has already invested in the Nvidia technology.
The $6.7 billion cash payment is in addition to Apple’s $1.5 billion cash and cash equivalents that it is planning to use to invest in Nvidia, the company said in a regulatory filing.
The cash and other assets that Apple and NVidia share include $2 billion in common stock, $300 million in cash and its share of Nvidia’s convertible debt, and $200 million in debt issued by NVidia.
Apple, which is planning a $10 billion acquisition of Nvidia in the next two years, said it expects to pay the cash payments over the next three years.
The deal would be for about $4 billion more than what Nvidia paid in cash, or $1 billion more cash than Apple paid in common shares, according to the filing.
The company said that its cash is being used to accelerate the development of Nvidia-based technology.
It has already been spending about $200 billion on new research and development and to ramp up its operations.