Aug. 19 (UPI) — U.S. chip maker Intel is getting a $2 billion lifeline from Japan’s SoftBank, the companies announced Monday.
SoftBank Group and Intel Corporation have signed a definitive securities purchase agreement, with SoftBank investing $2 billion in Intel common stock and the future of semiconductor innovation in the United States.
“Semiconductors are the foundation of every industry. For more than 50 years, Intel has been a trusted leader in innovation,” said Masayoshi Son, chairman and chief executive officer of SoftBank. “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.”
SoftBank will pay $23 for each share of Intel common stock, under the terms of the agreement. The investment allows Intel to continue building on its vision of advance…
