Intel, SoftBank
Digest more
Shares in the chip maker rose following news of SoftBank’s planned investment and a possible stake for the U.S. government.
SoftBank announced on Tuesday a $2 billion investment in Intel that will add to the Japanese tech investor's ambitious bet on artificial intelligence and the chip industry.
Launched in January, the Stargate joint venture unites OpenAI, SoftBank, and Oracle to accelerate AI infrastructure investment in the US.
SoftBank Group Corp. shares look to have limited upside after the rally this month that added more than ¥7 trillion ($47 billion) to an all-time high Monday.
Foxconn, in partnership with Japanese-owned SoftBank, will be building AI data center equipment within the former Lordstown GM Assembly plant. Reuters first reported the news on Monday. The work will be, as 21 News has previously reported, part of the Stargate project to build up to 16 artificial intelligence data centers across the US.
Son is also pursuing a $6.5 billion acquisition of Ampere Computing and reportedly eyeing up to $30 billion in OpenAI funding. But execution isn't running on schedule. For the first time, SoftBank's CFO admitted that Stargate is delayed.