Intel shares jumped about 5% in late trading after the announcement. They had closed at US$23.66 in New York after a year-to-date gain of 18%.
SoftBank Group Corp agreed to buy US$2 billion in Intel Corp stock, a move that extends its US investment effort and offers a vote of confidence in the struggling chipmaker.
SoftBank will pay US$23 a share for Intel common stock, according to a joint statement Monday. The agreement, which the companies described as a move to “deepen their commitment” to US chip innovation, will be subject to customary closing conditions.
