SoftBank makes $2B investment in Intel
Japanese conglomerate SoftBank has agreed to make a $2 billion investment in Intel in a deal described as a commitment to advanced technology and semiconductors in the United States. The agreement, in which SoftBank will buy Intel common stock, was announced Monday after markets closed. SoftBank will pay $23 per share of Intel common stock. Shares of Intel, which closed at $23.66, popped more than 5% in after-hours trading. SoftBank Group Chairman and CEO Masayoshi Son said in a statement that the “strategic investment reflects our belief that advanced semiconductor manufacturing and supply will further expand in the United States, with Intel playing a critical role.” The investment provides validation for Intel, which has been overshadowed in recent years by competitors…
