SoftBank is investing $2 billion in Intel
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Intel ( INTC) stock climbed more than 5% in pre-market trading Tuesday following the announcement that SoftBank Group ( SFTBY) will take a $2 billion stake in the ailing chip giant.
Shares in the chip maker rose following news of SoftBank’s planned investment and a possible stake for the U.S. government.
The move is part of SoftBank's investing initiatives in the US, which also includes commitments towards AI computing. Intel, which has lagged behind in the chip race after being the erstwhile market leader,
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