Japan’s SoftBank to invest US$2 billion in Intel
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Intel fell almost 8% as investors awaited the government's decision on the stake purchase and processed the possible consequences.
Major U.S. equities indexes were mixed Tuesday as tech sector losses weighed on their performance. The S&P 500 ended the session 0.6% lower, while the tech-heavy Nasdaq dropped 1.5%. The Dow held onto a fractional gain.
Shining a Spotlight on Intel Intel (NASDAQ:INTC) has emerged from the shadows of its semiconductor rivals, capturing the attention of investors and policymakers alike. After years of struggling to keep pace with competitors like Nvidia (NASDAQ:NVDA) and Taiwan Semiconductor Manufacturing (NYSE:TSM),
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Benzinga on MSNIntel Secures $2 Billion SoftBank Backing, Making Conglomerate Fifth-Largest Shareholder As Stock Climbs In Extended Trading
Intel gained a major backer Monday after SoftBank committed $2 billion for a roughly 2% stake, according to CNBC. SoftBank agreed to buy Intel shares at $23 each, slightly below Monday’s $23.66 closing price.