Intel, SoftBank
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Shares in the chip maker rose following news of SoftBank’s planned investment and a possible stake for the U.S. government.
3hon MSN
Trump administration vying to own a big stake in Intel after SoftBank’s $2 billion bet on company
U.S. Commerce Secretary Howard Lutnick on Tuesday confirmed the U.S. government is vying for a 10% stake in Silicon Valley pioneer Intel in an unusual deal that would deepen the Trump administration’s financial ties with major computer chip manufacturers and punctuate a dramatic about-face from the president’s recent push to oust the company’s CEO.
SoftBank is investing $2 billion in Intel, even as the White House is considering taking a 10% stake in chipmaker per reports, as talks with the company and Trump's team advance.
Money might not be the solution to Intel Corp.’s problems.
Intel scores $2B investment from Japan's SoftBank, shares jump. Sinclair reportedly offers to merge broadcast TV operations with Tegna. Crocs partnering with NFL for team-branded clogs.
The move is part of SoftBank's investing initiatives in the US, which also includes commitments towards AI computing. Intel, which has lagged behind in the chip race after being the erstwhile market leader,
The U.S. government wants an equity stake in Intel in exchange for cash grants approved during the administration of former President Joe Biden, Commerce Secretary Howard Lutnick said on Tuesday.