Washington reportedly considering 10% stake in US chipmaker
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Japan’s SoftBank has agreed to invest $2bn (£1.5bn) in Intel, the struggling US chip company, while the Trump administration is reportedly considering a 10% stake in the business by converting Chips Act subsidies into equity. That would make Washington Intel’s largest shareholder.
The Japanese technology investor announced its multi-billion dollar deal, amounting to a 2% stake in Intel, on Tuesday, describing Intel as a “trusted leader in innovation”. Intel shares fell by 5% while SoftBank shares were down 4%, retreating from all-time highs.
Masayoshi Son, SoftBank’s chairman and chief executive, said:
