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.
Intel shares have jumped after Japanese technology investment giant Softbank said it is buying a $2bn (£1.5bn) stake in the US computer chip maker. The announcement came just hours after new reports that the Trump administration is in talks to take a stake of around 10% in Intel by converting government grants into shares.
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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.