Shares Intel (INTC.US) are up more than 5% before the opening of the Wall Street stock exchange following news that SoftBank will invest $2 billion in the US chip manufacturer. The Japanese conglomerate will buy shares at $23, which is a slight discount to the last closing price. This move is seen as a strong signal of confidence in Intel, which in recent years has lost ground in the race for dominance in artificial intelligence semiconductors to Nvidia and TSMC. For SoftBank, this is an expansion of its exposure to the US, alongside its existing holdings in Arm Holdings and its investment in the Stargate project. It should be noted that in recent days there have been reports that the Donald Trump administration is considering acquiring up to 10% of Intel's shares by converting grants awarded to it under the CHIPS Act into equity. At the time, however, this information pushed share prices down.
Source: xStation
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