Intel, SoftBank
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Trump administration vying to own a big stake in Intel after SoftBank’s $2 billion bet on company
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 financial ties with major computer chip manufacturers and punctuate a dramatic about-face from the president’s recent push to oust the company’s CEO.
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.
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 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.
Intel scores $2B investment from Japan's SoftBank, shares jump. Sinclair reportedly offers to merge broadcast TV operations with Tegna. Crocs partnering with NFL for team-branded clogs.