Suche
SoftBank invests $2 billion in Intel
SoftBank is investing $2 billion in struggling chip maker Intel. The two companies have announced a strategic partnership to promote growth.
SoftBank invests $2 billion in Intel
New York – Japan's SoftBank will2 billion dollarsto invest in the ailing American chip manufacturer Intel, as the two companies announced on Monday.
Investment details
SoftBank pays$23 per shareof Intel common shares ( INTC ), according to a statement from the companies. After the news was announced, Intel shares rose 6% in after-hours trading.
Political discussions about Intel
This news comes just days after reports that The White House is discussing a stake in Intel. Reports on Monday speak of a possible state stake of 10% in the chip manufacturer, which is around10.5 billion dollarswould be worth.
Intel's challenges
The once powerful company Intel is fallen behind its competitors, as it was unable to adapt to technological advances.
Meeting between Trump and Tan
President Donald Trump and Intel CEO Lip-Bu Tan met last week following reports and allegations regarding Tan's ties to China. Trump described the meeting as "very interesting" and said Tan's "success and rise" was an impressive story.
Leadership changes and strategies
Tan has been trying to restructure the company since taking office in March. His plans include Layoffs of 15% of Intel employees, which the company says has almost completed.
CNN's Clare Duffy and Phil Mattingly contributed to this report.