Intel Secures $2 Billion US Investment from SoftBank
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The deal comes as the US government explores a deal to take as much as a 10% ownership stake in the Santa Clara, California, firm.
Intel stock falls as the company seeks more investors after SoftBank deal and Trump administration considers equity stake.
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.
Intel ( INTC) stock climbed more than 5% in pre-market trading Tuesday following the announcement that SoftBank Group ( SFTBY) will take a $2 billion stake in the ailing chip giant.
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.
Hon Hai Precision Industry Co. will operate a US factory owned by SoftBank Group Corp., setting up what’s in the running to be the first manufacturing site in the Japanese company’s $500 billion Stargate venture with OpenAI and Oracle Corp.