Intel, SoftBank
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Intel shares are surging 6% in premarket trading Tuesday on news that Japan's SoftBank Group is making a $2 billion investment in the struggling U.S. chipmaker.
Intel ( INTC) stock climbed more than 5% in pre-market trading Tuesday following the announcement that SoftBank Group ( SFTBY) will take a $2 billion stake in the ailing chip giant.
Trump recently demanded the "immediate resignation" of the Intel CEO, accusing Lip-Bu Tan of being "highly conflicted" due to his investments in Chinese companies. A later meeting between the two saw Intel's stock price jump by 7% after rumors of a potential deal emerged.
SoftBank is investing $2 billion in Intel, becoming a top-10 stakeholder in the struggling US chipmaker. The move highlights SoftBank’s push into AI and semiconductors, as Intel faces mounting pressure from rivals and possible US government involvement.
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The move is part of SoftBank's investing initiatives in the US, which also includes commitments towards AI computing. Intel, which has lagged behind in the chip race after being the erstwhile market leader,