Intel (INTC) shares are surging 6% in premarket trading Tuesday on news that Japan's SoftBank Group is making a $2 billion investment in the struggling U.S. chipmaker. SoftBank will pay $23 for each Intel share,

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.

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