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.”
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.”
[Notigroup Newsroom in collaboration with other media outlets, with information from the following sources]
