Intel Stock Soars
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Intel ( INTC) stock climbed more than 5% in pre-market trading Tuesday following the announcement that SoftBank Group ( SFTBY) will take a $2 billion stake in the ailing chip giant.
Intel was the best-performing stock in the S&P 500 when Japan's SoftBank Group made a $2 billion investment in the struggling chipmaker. U.S. equities were mixed at midday with new corporate earnings and the semiconductor industry in focus.
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,