SoftBank will invest $2 billion into Intel as the struggling chipmaker pulls back on spending and lays off thousands of workers. In an announcement, SoftBank CEO Masayoshi Son said the investment aligns with the firm’s belief that “advanced semiconductor manufacturing and supply will further expand in the United States.”
SoftBank’s investment in Intel makes it the sixth-largest shareholder, according to The Wall Street Journal. Last year, the Japanese investing firm committed to spending $100 billion in the US during President Donald Trump’s four years in office. SoftBank has already teamed up with OpenAI on Project Stargate, a $500 billion initiative to build a network of data centers in the US.
The news comes amid reports that the US government plans to take a 10 percent stake in Intel. During an interview with CNBC on Tuesday, Treasury Secretary Scott Bessent said the “stake would be a conversion of grants” meant to “stabilize the company for chip production here in the US.”
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Intel will receive a $2 billion lifeline from SoftBank