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SoftBank Invests $2 Billion in Intel, Sparking 7% Stock Surge
SoftBank Invests $2 Billion in Intel, Sparking 7% Stock Surge
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BTCCSquare news:
Intel shares rallied nearly 7% after SoftBank Group acquired a $2 billion stake in the chipmaker at $23 per share, becoming its fifth-largest shareholder. The investment provides critical liquidity for Intel as it executes cost-cutting measures amid restructuring efforts.
"Masa and I have worked closely together for decades," said Intel CEO Lip-Bu Tan, referencing SoftBank founder Masayoshi Son. The deal aligns with SoftBank's growing focus on AI and semiconductor investments, capitalizing on Intel's depressed valuation following recent struggles.
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