SoftBank Invests $2 Billion in Intel Amid Major Company Changes
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 stated that the investment aligns with the firm’s belief that “advanced semiconductor manufacturing and supply will further expand in the United States,” reports 24brussels.
As a result of this investment, SoftBank becomes Intel’s sixth-largest shareholder, according to The Wall Street Journal. Last year, the Japanese investment firm committed to spending $100 billion in the US during President Donald Trump’s tenure. SoftBank has also teamed up with OpenAI on Project Stargate, a $500 billion initiative aimed at building a network of data centers across the United States.
This news comes amid reports that the US government plans to take a 10 percent stake in Intel. During an interview with CNBC on Tuesday, Treasury Secretary Scott Bessent remarked that the “stake would be a conversion of grants” intended to “stabilize the company for chip production here in the US.”
