Intel is Getting a $2 Billion Investment From SoftBank

Intel and SoftBank announced on Monday that the Japanese conglomerate will make a $2 billion investment the embattled chipmaker. SoftBank will pay $23 per share for Intel's common stock. The investment is a vote of confidence in Intel, which has not been able to take advantage of the AI boom in advanced semiconductors and has spent heavily to stand up a manufacturing business that has yet to secure a significant customer.

'Masa and I have worked closely together for decades, and I appreciate the confidence he has placed in Intel with this investment,' Intel CEO Lip-Bu Tan said in a statement. Intel shares lost 60% of their value last year, their worst performance in the company's more than half-century on the public market.

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