SoftBank Group Corp., a Japanese multinational investment firm, and Intel Corporation, a global technology company, announced on Tuesday that SoftBank will invest $2 billion in Intel by buying its common stock under a signed agreement.
The investment comes as both Intel and SoftBank deepen their commitment to investing in advanced technology and semiconductor innovation in the United States, Softbank said in a statement.
“Semiconductors are the foundation of every industry. For more than 50 years, Intel has been a trusted leader in innovation,
“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,” said Masayoshi Son, Chairman and Chief Executive Officer of SoftBank Group Corp.
Under the agreement, SoftBank will pay $23 for each share of Intel stock.
The deal will go through once standard closing conditions are met.
SoftBank’s investment in Intel is part of its long-term plan to support the AI revolution by helping expand access to advanced technologies, including digital transformation, cloud computing, and next-generation infrastructure.
“We are very pleased to deepen our relationship with SoftBank, a company that’s at the forefront of so many areas of emerging technology and innovation and shares our commitment to advancing U.S. technology and manufacturing leadership,
“Masa and I have worked closely together for decades, and I appreciate the confidence he has placed in Intel with this investment,” said Lip-Bu Tan, Chief Executive Officer of Intel.
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