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Intel Gains $2 Billion Investment From SoftBank to Revive US Chipmaking
The investment will make SoftBank Intel’s fifth biggest investor, with the conglomerate paying $23 per share of Intel common stock. Lip-Bu Tan, Intel’s CEO, said in a statement that he “appreciate (s) the confidence (SoftBank) has placed in Intel with this investment.”
Shares in the chip maker rose following news of SoftBank’s planned investment and a possible stake for the U.S. government.
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SoftBank’s $47B rally faces pause as charts signal overheated stock
SoftBank recently revealed plans to acquire a $2 billion (£1.5 billion) stake in Intel, driving the chipmaker’s shares up.
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