Intel, SoftBank
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Shares in the chip maker rose following news of SoftBank’s planned investment and a possible stake for the U.S. government.
Intel is getting a $2 billion capital injection from SoftBank Group in a major vote of confidence for the troubled U.S. chipmaker in the middle of a turnaround.
Intel is getting a $2 billion investment in common stock from SoftBank, which is betting big on the AI revolution.
Shares in the chip maker rose following news of SoftBank’s planned investment and a possible stake for the U.S. government.
SoftBank will invest $2 billion into Intel as the struggling chipmaker pulls back on spending and lays off thousands of workers. In an announcement, SoftBank CEO Masayoshi Son said the investment aligns with the firm’s belief that “advanced semiconductor manufacturing and supply will further expand in the United States.”
Intel is getting a $2 billion lifeline from SoftBank and could get more from the Trump administration. But that might not be enough to save the ailing chipmaker.
Intel Corporation sees a steep rally; speculation over U.S. stake and SoftBank investment fuels optimism, but can it overcome challenges? Click for our INTC update.