Intel gets $2 billion from 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.
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.
Intel stock falls as the company seeks more investors after SoftBank deal and Trump administration considers equity stake.
Intel is getting a $2 billion investment in common stock from SoftBank, which is betting big on the AI revolution.
(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.
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The move is part of SoftBank's investing initiatives in the US, which also includes commitments towards AI computing. Intel, which has lagged behind in the chip race after being the erstwhile market leader,
SoftBank’s billionaire founder Masayoshi Son held talks with Intel’s chief executive about buying its faltering contract chipmaking business in the weeks before Monday’s announcement that the Japanese company would invest $2bn in the US group’s shares.