Intel gets $2 billion from SoftBank
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Shares in the chip maker rose following news of SoftBank’s planned investment and a possible stake for the U.S. government.
Intel is getting a $2 billion investment in common stock from SoftBank, which is betting big on the AI revolution.
Intel stock falls as the company seeks more investors after SoftBank deal and Trump administration considers equity stake.
A $2 billion investment represents a roughly 2% stake, ranking SoftBank the fifth-largest shareholder of Intel, while a reported 10% stake by the U.S. would be worth about $10.4 billion as of Monday’s share price.
1don MSN
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.
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.
(Reuters) -Intel is in talks with other large investors to receive an equity infusion at a discounted price, CNBC reported on Wednesday, just days after the chipmaker got a $2 billion capital injection from SoftBank Group.
The U.S. has taken stakes in struggling firms before—most notably, General Motors, during the 2008 financial crisis, before exiting in 2013.