Japan’s SoftBank to invest US$2 billion in Intel
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Shares in the chip maker rose about 5% premarket following news of SoftBank’s planned investment and a possible stake for the U.S. government.
SoftBank’s $2B Intel investment boosts stock momentum. Technical analysis targets a breakout above $27.55, with risks tied to broader tech sector weakness.
Foxconn, in partnership with Japanese-owned SoftBank, will be building AI data center equipment within the former Lordstown GM Assembly plant. Reuters first reported the news on Monday. The work will be, as 21 News has previously reported, part of the Stargate project to build up to 16 artificial intelligence data centers across the US.
Hon Hai Precision Industry Co. will operate a US factory owned by SoftBank Group Corp., setting up what’s in the running to be the first manufacturing site in the Japanese company’s $500 billion Stargate venture with OpenAI and Oracle Corp.