Intel gets $2 billion from SoftBank
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Intel is getting a $2 billion investment in common stock from SoftBank, which is betting big on the AI revolution.
A $2 billion investment represents a roughly 2% stake, ranking SoftBank the fifth-largest shareholder of Intel, while a reported 10% stake by the U.S. would be worth about $10.4 billion as of Monday’s share price.
The U.S. chipmaker has struggled to keep pace in the AI market alongside competitors like Nvidia. Softbank has agreed to buy Intel common stock at $23 per share.
Intel is getting a $2 billion lifeline from Japan's SoftBank, the companies announced Monday after signing a definitive securities purchase agreement.
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.
Shares in the chip maker rose following news of SoftBank’s planned investment and a possible stake for the U.S. government.
(Reuters) -Intel is in talks with other large investors to receive an equity infusion at a discounted price, CNBC reported on Wednesday, just days after the chipmaker got a $2 billion capital injection from SoftBank Group.
The U.S. has taken stakes in struggling firms before—most notably, General Motors, during the 2008 financial crisis, before exiting in 2013.