SoftBank bets $2 billion in Intel to power US tech ambition
(Bloomberg) – Softbank Group Corp., Intel Corp. He agreed to buy $ 2 billion for the stock.
According to a joint statement on Monday, Softbank will pay a 23 -dollar share for the Intel stock. The agreement, which companies define as “deepening their commitment ına to US chipset innovation, will be subject to the usual closing conditions.
Intel shares increased by about 5% in late operations after the announcement. After 18 %one -year earnings, they were closed in New York at $ 23.66.
Softbank, based in Tokyo, is expanding US footprint. This is to buy Foxconn Technology Group’s electric vehicle facility in Ohio and Openai and Oracle Corp. It includes a new agreement to create a data center project called Stargate called Stargate.
In the meantime, Intel aims to prove that it may be a technology leader again after being left behind in the chip industry. He also made negotiations with the Trump administration about an agreement that would potentially transform the US into its greatest supporter. Bloomberg said that the administrative authorities discussed a share of about 10% in the chip manufacturer.
Describing his investment in Intel, Softbank paid tribute to the history of Chip Pioneer.
“For more than 50 years, Intel has been a reliable leader in innovation, Soft said Softbank Chairman Masayoshi Son. “This strategic investment reflects our belief that advanced semiconductor production and supply will expand further with Intel’s critical role.”
Earlier this year, Intel CEO, a chip industry veteran who took the rudder, Lip-Bu Tan, who previously worked with the son.
Açık We are very pleased to deepen our relationship with Softbank, a company that is at the forefront of many areas of developing technology and innovation and shares our commitment to advance US technology and production leadership, ”he said. “I appreciate your confidence in Intel with this investment.”
(Updates shares in the third paragraph.)
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