Intel, SoftBank
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The move could signal SoftBank’s chip ambitions, as the company may be gearing up to build Arm CPU tiles, AI XPUs, and Ampere chips tied to the Stargate Project.
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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Stocktwits on MSNIntel Stock Takes Off In Extended Trading After Masayoshi Son’s SoftBank Picks $2B Stake In Struggling Chipmaker — Retail Sees Huge Rally Loading
Intel Corp. (INTC) stock surged nearly 5.5% in extended trading on Monday after the struggling chipmaker announced that the company struck a deal with Masayoshi Son-led SoftBank (SFTBY) regarding a $2 billion strategic investment.
SoftBank Group Corp. swung to a quarterly profit, riding on gains from its bets on Nvidia Corp. and startups in a boon for founder Masayoshi Son’s bets on artificial intelligence technologies.
PayPay has filed for a US listing that could value Japan’s ubiquitous payments company at more than $10bn and help fund some of owner SoftBank’s massive bets on artificial intelligence.