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SoftBank Group Corp. agreed to buy $2 billion of Intel Corp. stock, a surprise deal to shore up a struggling US name while boosting its own chip ambitions. The Japanese company, which is adding Intel to an investment portfolio that includes AI linchpins Nvidia Corp. and Taiwan Semiconductor Manufacturing Co., will pay $23 a share—a small discount to Intel's last close. Shares of the US chipmaker, which will issue new stock to SoftBank, surged more than 5% in after-hours trading. SoftBank fell as much as 5% Tuesday in Tokyo.
SoftBank Group Corp. agreed to buy $2 billion of Intel Corp. stock, a surprise deal to shore up a struggling US name while boosting its own chip ambitions.
The Japanese company, which is adding Intel to an investment portfolio that includes AI linchpins Nvidia Corp. and Taiwan Semiconductor Manufacturing Co., will pay $23 a share—a small discount to Intel's last close. Shares of the US chipmaker, which will issue new stock to SoftBank, surged more than 5% in after-hours trading. SoftBank fell as much as 5% Tuesday in Tokyo.
SoftBank, which owns Arm Holdings Plc, has for decades tried to become a central player in AI. Those ambitions sharpened this year with the announcement of Stargate, a $500 billion endeavour with OpenAI, Oracle Corp. and Abu Dhabi fund MGX to build essential data centres in the US. Prior to that, founder Masayoshi Son dreamed of competing with Nvidia in chip design through the “Izanagi” project.
Its latest move also delivers a strong vote of confidence in a storied US chipmaker that's struggled to remain relevant in the AI sphere.
Intel aims to prove it can be a technology leader again after falling behind TSMC in contract chipmaking and Nvidia in chip design. CEO Lip-Bu Tan met with US President Donald Trump at the White House last week, helping lay the groundwork for discussions around ways to rescue Intel.
The Santa Clara-based company held talks with the Trump administration about a deal that would potentially turn the US into its biggest backer. Officials have discussed taking a stake of about 10% in the chipmaker, Bloomberg News reported Monday.
SoftBank has been expanding its US footprint. That includes a recent deal to buy Foxconn Technology Group's electric vehicle plant in Ohio—a move that could kickstart Stargate.
In announcing its investment in Intel, SoftBank paid tribute to the chip pioneer's history.
“For more than 50 years, Intel has been a trusted leader in innovation,” Son said in a statement. “This strategic investment reflects our belief that advanced semiconductor manufacturing and supply will further expand in the United States, with Intel playing a critical role.”
The timing of the announcement could be a boost for Japan as it presses the US to follow through on a pledge to cut tariffs on its cars in exchange for setting up a $550 billion fund for investment into the US.
Intel CEO Tan, a chip industry veteran who took the helm this year, has worked with Son previously and spent years on SoftBank Group's board as an independent director before resigning in 2022. “I appreciate the confidence he has placed in Intel with this investment,” Tan said.
Source: HindustanTimes
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