A SoftBank subsidiary has signed a collaboration agreement with Intel to commercialize "next-generation memory technology."
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Saimemory, a subsidiary of multinational investment giant SoftBank
, has signed a collaboration agreement with American chipmaker Intel Corp.
to advance the commercialization of next-generation memory technology, the companies announced Tuesday.
The partnership focuses on next-generation memory technologies that can support the growing demands of artificial intelligence and high-performance computing. The effort is currently known as the “Z-Angle Memory program,” or ZAM.
SoftBank has been expanding its US footprint, including a recent deal to buy Foxconn’s electric vehicle plant in Ohio.
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Intel CEO Lip-Bu Tan first invested in SambaNova in 2017. Now the chipmaker he runs is putting more capital behind the startup.
U.K.-based Graphcore is developing AI chips and systems and was acquired by the Japanese giant in 2024.
SoftBank will pay $23 per share for Intel common stock.
SoftBank will pay $23 per share for Intel's common stock, acquiring roughly 2% of the struggling chipmaker.
