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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.
Intel shares jump as Softbank to buy $2bn stake in chip giant
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.
The potential deal, which was first reported last week, aims to help Intel build a flagship manufacturing hub in Ohio. At the time, a White House spokesman told the BBC that the reports "should be regarded as speculation" unless officially announced.
The BBC has contacted the White House and Intel for comment.
Under the deal announced on Monday, Softbank will pay $23 per share in Intel.
"The investment comes as both Intel and SoftBank deepen their commitment to investing in advanced technology and semiconductor innovation in the United States," the two companies said in a joint statement.
Intel shares rose by more than 5% in after-hours trade in New York on Monday.
Last week, US President Donald Trump and members of his cabinet met Intel chief executive Lip-Bu Tan.
The meeting came just days after Trump called for Mr Tan to resign, accusing him of being "highly conflicted" due to his earlier ties to China.
The developments came as the US chip industry is under intense scrutiny by the White House.
Some analysts have described Intel's potential deal with the US government as a lifeline for the firm.
Intel is one of the few US firms capable of manufacturing high-end semiconductors at scale.
But globally, it has lost out to rival chip manufacturers like Samsung and TSMC.
On Thursday, the company declined to comment on the reported discussions and said it was "deeply committed to supporting President Trump's efforts" to strengthen manufacturing and technology in the US.
Such an agreement would mark a "major escalation" in what seems to be an attempt by the Trump administration to reshape the US government's role in the private sector, said political scientist Sarah Bauerle Danzman from Indiana University.
But the potential move sets a "concerning precedent" as it raises questions about whether companies may be pushed to follow political agendas, she said.
It also signals Washington's determination to ensure Intel succeeds and that the supply chain for computer chips is protected, said Dan Sheehan from Telos Wealth Advisors.
"[The Government's] agenda is clear: Accelerate domestic production, reduce dependence on Asia, and position Intel at the centre of the AI and national security landscape," he said.
SoftBank's investment is a "clear vote of confidence" in Intel's turnaround, he added.
Last week, Nvidia and AMD agreed to pay the US government 15% of their Chinese revenues as part of an unprecedented deal to secure export licences to China.
Source: BBC
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