SoftBank invests $2B in Intel
Digest more
Shares in the chip maker rose following news of SoftBank’s planned investment and a possible stake for the U.S. government.
SoftBank Group Corp. agreed to buy $2 billion of Intel Corp. stock, a surprise deal to shore up a struggling US name while boosting its own chip ambitions.
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 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.
Foxconn said on Monday it plans to manufacture data centre equipment with Japan's SoftBank at the Taiwanese firm's former electric vehicle factory in Ohio, part of the Stargate project to advance U.S.