Intel, SoftBank
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Intel stock falls as the company seeks more investors after SoftBank deal and Trump administration considers equity stake.
SoftBank announced on Tuesday a $2 billion investment in Intel that will add to the Japanese tech investor's ambitious bet on artificial intelligence and the chip industry.
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SoftBank recently revealed plans to acquire a $2 billion (£1.5 billion) stake in Intel, driving the chipmaker’s shares up. However, Softbank’s stock dipped 5% on the same day. On the other hand, Intel’s stock rose by over 5% after-hours trading in New York on Monday.
SoftBank Group Corp. shares fell for a second day, following a sharp selloff in US technology shares and as concerns over its investment in Intel Corp. continued to weigh on the company.
Current and former OpenAI employees plan to sell approximately $6 billion worth of shares to an investor group that includes Thrive Capital, SoftBank Group Corp. and Dragoneer Investment Group, in a deal that values the ChatGPT maker at $500 billion.
Intel is getting a $2 billion lifeline from SoftBank and could get more from the Trump administration. But that might not be enough to save the ailing chipmaker.
SoftBank's $2 billion stake could help the chip maker gain customers and increase Intel's earnings per share, one analyst says SoftBank Chief Executive Masayoshi Son could bring valuable customers and political capital to Intel. SoftBank Group Corp.'s $2 ...