US government and SoftBank to back Intel with fresh investments: Why it matters

CHENNAI: Global semiconductor major Intel is all set to secure two major sources of fresh financial support — from the US government and from Japanese investment group SoftBank — as it pushes ahead with plans to revive its technology leadership and expand semiconductor manufacturing in the US.

On Monday, SoftBank Group announced its plans to buy $2 billion worth of Intel shares at $23 per share. This deal makes SoftBank one of Intel’s top ten shareholders, though it will not take a board seat or commit to buying Intel chips.