Bankinter | After Japanese company Softbank announced that it will invest $2 billion in chip manufacturer Intel, it has been confirmed that the US government will acquire a 10% stake in the company with an valuation of $1 billion. The transaction will be carried out by converting grants awarded under the previous Biden administration’s CHIPS and Science Act into equity capital. In recent years, Intel has suffered declining sales and market share as it has struggled to capitalise on the boom in AI in advanced semiconductors. With these moves, they are seeking capital to invest and try to reverse the situation.
US government to take 10% stake in Intel after Japan’s Softbank announces $2 billion investment in chipmaker
