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On August 19, Intel announced the signing of an agreement with SoftBank Group, whereby SoftBank will inject $2 billion into Intel by acquiring shares. Prior to this, SoftBank's CEO, Masayoshi Son, had engaged in discussions with Intel's CEO, Pat Gelsinger, regarding the potential acquisition of Intel's ailing chip foundry business. Pursuant to the agreement, SoftBank will subscribe to newly issued common shares of Intel at a price of $23 per share. SoftBank clarified that this investment is intended to bolster Intel's manufacturing transformation efforts and the development of its AI ecosystem in the United States. Amidst intensifying competition from TSMC and Samsung, Intel is striving to revitalize its foundry business and rekindle its foundry services, aiming to reclaim its technological supremacy.
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