SoftBank invests $2B in Intel
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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.
The two companies said SoftBank's stake in Intel was a bet on the growing market for artificial intelligence, which Intel has struggled to serve.
(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.
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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,