SoftBank Injects $2 Billion into Intel, Shares Surge 6%
Summary
SoftBank, the Japanese tech conglomerate, injects a massive $2 billion investment into Intel, the American semiconductor giant, sending Intel's shares soaring 6% in after-hours trading as the struggling chipmaker receives a much-needed financial boost.
Key Points
- SoftBank announces $2 billion investment into struggling American chipmaker Intel
- SoftBank will pay $23 per share of Intel common stock
- Intel shares rise 6% in after-hours trading following the news