Shares in the chip maker rose following news of SoftBank’s planned investment and a possible stake for the U.S. government.

SoftBank will pay $23 per share of Intel common stock, as the Trump administration negotiates a deal to acquire a 10% stake in Intel.

U.S. Commerce Secretary Howard Lutnick on Tuesday confirmed the U.S. government is vying for a 10% stake in Silicon Valley pioneer Intel in an unusual deal that would deepen the Trump administration’s financial ties with major computer chip manufacturers and punctuate a dramatic about-face from the president’s recent push to oust the company’s CEO.

Intel Corporation sees a steep rally; speculation over U.S. stake and SoftBank investment fuels optimism, but can it overcome challenges? Click for our INTC update.

The move could signal SoftBank’s chip ambitions, as the company may be gearing up to build Arm CPU tiles, AI XPUs, and Ampere chips tied to the Stargate Project.

The move is part of SoftBank's investing initiatives in the US, which also includes commitments towards AI computing. Intel, which has lagged behind in the chip race after being the erstwhile market leader,

Intel scores $2B investment from Japan's SoftBank, shares jump. Sinclair reportedly offers to merge broadcast TV operations with Tegna. Crocs partnering with NFL for team-branded clogs.