Tokyo, Aug 19
Japanese investment giant SoftBank and chip major Intel Corporation have signed a definitive securities purchase agreement, under which SoftBank will make a $2 billion investment in Intel.
The investment comes as both Intel and SoftBank deepen their commitment to investing in advanced technology and semiconductor innovation in the United States, the companies said in a statement.
“Semiconductors are the foundation of every industry. For more than 50 years, Intel has been a trusted leader in innovation. This strategic investment reflects our belief that advanced semiconductor manufacturing and supply will further expand in the United States, with Intel playing a critical role,” said Masayoshi Son, Chairman and CEO of SoftBank Group.
Under the terms of the agreement, SoftBank will pay $23 per share of Intel common stock. The transaction is subject to customary closing conditions.
SoftBank’s investment in Intel builds upon its long-term vision of enabling the AI revolution by accelerating access to advanced technologies that support digital transformation, cloud computing, and next-generation infrastructure.