SoftBank invests $2B in Intel
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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.
U.S. Commerce Secretary Howard Lutnick on Tuesday confirmed the U.S. government is vying for a 10% stake in Silicon Valley pioneer Intel in an unusual deal that would deepen the Trump administration’s
SoftBank Group Corp. shares fell for a second day, following a sharp selloff in US technology shares and as concerns over its investment in Intel Corp. continued to weigh on the company.
Shares in the chip maker rose following news of SoftBank’s planned investment and a possible stake for the U.S. government.
The back-to-back news items signal a public and private sector commitment to domestic semiconductor production and underscore Intel's importance.
SoftBank Group Corp. agreed to buy $2 billion of Intel Corp. stock, a surprise deal to shore up a struggling US name while boosting its own chip ambitions.
SoftBank announced on Tuesday a $2 billion investment in Intel that will add to the Japanese tech investor's ambitious bet on artificial intelligence and the chip industry.