SoftBank invests $2B in Intel, boosting chipmaker's stock
Intel is set to receive a $2 billion boost from Japan's SoftBank Group, who bought shares at $23 each.
This news sent Intel's stock up 5.5% in after-hours trading on Monday, reflecting the companies' commitment to advanced US technology and chip innovation.
SoftBank's investment shows confidence in Intel's future
SoftBank's move signals strong belief in Intel's future—especially its work in AI and cloud computing.
Even with the recent jump, though, Intel's stock is only up 17% this year, still trailing other tech giants.
Investment could help Intel regain its chip technology lead
This investment could potentially help Intel speed up its push to lead in chip technology again.
The CEOs of both companies have worked together for years; Masayoshi Son from SoftBank praised Intel's "50-year legacy" of innovation, while Lip-Bu Tan, CEO of Intel, said they're aiming to keep US tech ahead with this partnership.
The deal is still waiting on final approvals.