A formal securities purchase agreement was signed by SoftBank Group Corp. and Intel Corporation, according to which SoftBank will invest $2 billion in Intel common stock. Both SoftBank and Intel are strengthening their commitment to funding semiconductor innovation and cutting-edge technologies in the US with this investment.
SoftBank will pay $23 for each share of Intel common stock under the terms of the deal. Customary closing requirements apply to the transaction.
SoftBank’s long-term goal of facilitating the AI revolution by expanding access to cutting-edge technologies that underpin cloud computing, digital transformation, and next-generation infrastructure is furthered by its investment in Intel.
Leadership Comments
Masayoshi Son, Chairman & CEO of SoftBank Group Corp., said:
“Semiconductors are the foundation of every industry. For more than 50 years, Intel has been a trusted leader in innovation. This strategic investment reflects our belief that advanced semiconductor manufacturing and supply will further expand in the United States, with Intel playing a critical role.”
Lip-Bu Tan, CEO of Intel, said:
“We are very pleased to deepen our relationship with SoftBank, a company that’s at the forefront of so many areas of emerging technology and innovation and shares our commitment to advancing U.S. technology and manufacturing leadership. Masa and I have worked closely together for decades, and I appreciate the confidence he has placed in Intel with this investment.”
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