Intel, SoftBank
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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.
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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.
Current and former OpenAI employees plan to sell approximately $6 billion worth of shares to an investor group that includes Thrive Capital, SoftBank Group Corp. and Dragoneer Investment Group, in a deal that values the ChatGPT maker at $500 billion.
Intel is getting a $2 billion lifeline from SoftBank and could get more from the Trump administration. But that might not be enough to save the ailing chipmaker.
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SoftBank Group pares earlier gains to rise over 10%, hitting record high on strong earnings
Shares of SoftBank Group ended Friday 10.39% higher at 13,865, paring gains from its record of 14,390 earlier in the session following the company's higher-than-expected fiscal first-quarter profit. SoftBank shares have extended gains to a fourth straight session, and closed at a record high on Thursday, before the company released its earnings.
Japanese technology investor SoftBank Group on Thursday booked a net profit of $2.87 billion in the first quarter, driven by gains among larger listed investments in its Vision Fund portfolio.
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.
Intel shares have jumped after Japanese technology investment giant Softbank said it is buying a $2bn (£1.5bn) stake in the US computer chip maker. The announcement came just hours after new reports that the Trump administration is in talks to take a stake of around 10% in Intel by converting government grants into shares.
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