Intel will receive a $2 billion lifeline from SoftBank
1 min read
Summary
Software company SoftBank will invest $2bn in Intel, making it the chipmaker’s sixth-largest shareholder, according to The Wall Street Journal.
This investment forms part of SoftBank’s objective to spend $100bn in the US, announced last year, and builds on its partnership with OpenAI to construct a network of US data centres.
This latest move comes amid reports that the US government is considering taking a 10% stake in Intel, turning grants into equity to support domestic chip manufacturing.
Earlier this week, Intel confirmed plans to cut hundreds of jobs in Germany, after revealing it would lay off 11% of its workforce globally as it looks to save billions of dollars in costs.