Intel is getting a $2 billion investment in common stock from SoftBank, which is betting big on the AI revolution.

SoftBank Group Corp. agreed to buy $2 billion of Intel Corp. stock, a surprise deal to shore up a struggling US name while boosting its own chip ambitions.

The investment will make SoftBank Intel’s fifth biggest investor, with the conglomerate paying $23 per share of Intel common stock. Lip-Bu Tan, Intel’s CEO, said in a statement that he “appreciate (s) the confidence (SoftBank) has placed in Intel with this investment.”

A new partner to Foxconn's AI venture in Lordstown, Japanese investment firm SoftBank, has also announced a $2 billion investment in semiconductor giant Intel.

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.

Intel has secured a crucial $2 billion lifeline from Japanese investment conglomerate SoftBank, marking a significant intervention that comes at a turning point for the struggling American chip giant.

Launched in January, the Stargate joint venture unites OpenAI, SoftBank, and Oracle to accelerate AI infrastructure investment in the US.

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.