Japan’s SoftBank to invest US$2 billion in Intel
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Shares of AMD are continuing their slide Wednesday morning. Chip stocks fell Tuesday after SoftBank announced a $2 billion investment in rival Intel.
Shining a Spotlight on Intel Intel (NASDAQ:INTC) has emerged from the shadows of its semiconductor rivals, capturing the attention of investors and policymakers alike. After years of struggling to keep pace with competitors like Nvidia (NASDAQ:NVDA) and Taiwan Semiconductor Manufacturing (NYSE:TSM),
The potential deal would convert the CHIPS ACT grants into equity, but wouldn't come with governance rights in Intel, Lutnick said.
Intel fell almost 8% as investors awaited the government's decision on the stake purchase and processed the possible consequences.
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tom's Hardware on MSNWhite House confirms talks to acquire 10% stake in Intel — 'We should get an equity stake for our money'
The U.S. wants to get 10% of Intel in exchange for the billions of dollars it’s giving it under the CHIPS Act.
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Irish Independent on MSNHoward Lutnick confirms US government wants Intel stake, but not voting rights
United States commerce secretary Howard Lutnick confirmed discussions are taking place between the US and Intel for the government to take a stake in the chipmaker, casting the plan as a bid to convert Chips and Science Act grants into equity.
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Benzinga on MSNIntel Secures $2 Billion SoftBank Backing, Making Conglomerate Fifth-Largest Shareholder As Stock Climbs In Extended Trading
Intel gained a major backer Monday after SoftBank committed $2 billion for a roughly 2% stake, according to CNBC. SoftBank agreed to buy Intel shares at $23 each, slightly below Monday’s $23.66 closing price.