Intel and SoftBank announced on Monday that the Japanese conglomerate will make a $2 billion investment in the embattled chipmaker.
It’s a vote of support for Intel, which hasn’t been able to take advantage of the artificial intelligence boom in advanced semiconductors and has spent heavily to stand up a manufacturing business that’s yet to secure a significant customer.
Intel has also been a major topic of discussion in Washington as of late, as the U.S. government is considering taking an equity stake in Intel, according to reports.
