US government to take 10% stake in Intel after Japan’s Softbank announces $2 billion investment in chipmaker
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…