The U.S. chipmaker has struggled to keep pace in the AI market alongside competitors like Nvidia. Softbank has agreed to buy Intel common stock at $23 per share.

SoftBank agreed to acquire $2 billion worth of stock in beleaguered chipmaker Intel as the Japanese conglomerate continues to deepen its investment in the U.S.

The investment comes as both Intel and SoftBank deepen their commitment to investing in advanced technology and semiconductor innovation in the United States. Masayoshi Son, Chair