Intel, SoftBank
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Shares in the chip maker rose following news of SoftBank’s planned investment and a possible stake for the U.S. government.
SoftBank Group Corp. shares fell for a second day, following a sharp selloff in US technology shares and as concerns over its investment in Intel Corp. continued to weigh on the company.
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SoftBank recently revealed plans to acquire a $2 billion (£1.5 billion) stake in Intel, driving the chipmaker’s shares up. However, Softbank’s stock dipped 5% on the same day. On the other hand, Intel’s stock rose by over 5% after-hours trading in New York on Monday.
SoftBank Group Corp.’s $2 billion investment in Intel Corp. could be the catalyst the struggling chip maker needs to turn the corner, some analysts believe.
Between 1,600 and 2,000 jobs are expected at the former General Motors Lordstown plant following its $375 million sale to SoftBank, a Trumbull County commissioner said Tuesday.
SoftBank Group Corp. agreed to buy $2 billion of Intel Corp. stock, a surprise deal to shore up a struggling US name while boosting its own chip ambitions.
Earlier this week, Foxconn Chairman Young Liu confirmed that SoftBank has acquired its Ohio plant to build new AI servers in the US. The transaction was