Intel completes sale of stock to SoftBank

[Intel Headquarters]
hapabapa

* Intel (NASDAQ:INTC [https://seekingalpha.com/symbol/INTC]) disclosed [https://seekingalpha.com/filing/10462696] late on Monday that the beleaguered chipmaker had completed the issuance and sale of 86.95M shares to SoftBank (OTCPK:SFTBY [https://seekingalpha.com/symbol/SFTBY]) at $23 per share.
* The previously announced [https://seekingalpha.com/news/4486774-intel-scores-2b-investment-from-japans-softbank-shares-jump-after-hours] investment by SoftBank is one of several moves the Lip Bu-Tan-led company has undertaken to shore up its balance sheet. In August, the Trump administration took [https://seekingalpha.com/news/4488523-intel-confirms-massive-11_1b-investment-by-us-government] an $11.1B stake in Intel, though the company warned [https://seekingalpha.com/news/4488912-intel-rises-even-as-it-says-new-us-stake-ups-risks] that the U.S. investment could harm its operations in other countries. Earlier this month, Intel and Nvidia (NVDA [https://seekingalpha.com/symbol/NVDA]) signed a deal that would see the duo co-develop PC and data center chips. Simultaneously, Nvidia said [https://seekingalpha.com/news/4495994-nvidia-intel-sign-blockbuster-deal-to-co-develop-chips-nvidia-to-take-5b-stake-in-intel] it would take a $5B stake in Intel.
* Santa Clara, Calif.-based Intel has also spoken [https://seekingalpha.com/news/4498589-intel-looks-to-apple-as-tan-seeks-to-bring-shine-back-to-chipmaker-report] to other companies about acquiring stakes in it, including Apple (AAPL [https://seekingalpha.com/symbol/AAPL]).
* Intel shares fell 1.6% in premarket trading on Tuesday, but have surged more than 70% year-to-date.

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