Intel Stock Soars
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Intel shares jumped after SoftBank said it would put $2 billion into the struggling chipmaker amid reports the U.S. government is considering a stake.
Shares in the chip maker rose following news of SoftBank’s planned investment and a possible stake for the U.S. government.
SoftBank will invest $2 billion into Intel as the struggling chipmaker pulls back on spending and lays off thousands of workers. In an announcement, SoftBank CEO Masayoshi Son said the investment aligns with the firm’s belief that “advanced semiconductor manufacturing and supply will further expand in the United States.”
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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,