SoftBank Injects $2 Billion into Intel, Acquiring 2% Stake as Chipmaker Battles Nvidia in AI Race
Summary
SoftBank injects $2 billion into Intel, acquiring a 2% stake as the chipmaker battles Nvidia in the AI race, with Intel shares rising 6% on the investment announcement.
Key Points
- SoftBank invests $2 billion in Intel, buying stock equal to 2% of Intel's outstanding shares
- Intel shares rose about 6% in extended trading after the investment announcement
- The investment is a vote of confidence in Intel as it struggles to gain traction in the AI chip market dominated by Nvidia