SoftBank will pay $23 per share for Intel common stock.
The announcement comes hours after reports that the White House is in talks over taking a 10% stake in Intel.
SoftBank will pay $23 per share for Intel's common stock, acquiring roughly 2% of the struggling chipmaker.
SoftBank has been expanding its US footprint, including a recent deal to buy Foxconn’s electric vehicle plant in Ohio.
Intel is getting a $2 billion lifeline from Japan's SoftBank, the companies announced Monday after signing a definitive securities purchase agreement.
Washington reportedly considering 10% stake in US chipmaker
It comes after SoftBank announced it would invest $2 billion in the struggling chipmaker.