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 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.

Below are major AI investments SoftBank has announced so far. On August 18, SoftBank announced a $2 billion equity investment in Intel, saying the deal reflected its belief that chip manufacturing and supply would expand further in the U.

SoftBank Group Corp. shares look to have limited upside after the rally this month that added more than ¥7 trillion ($47 billion) to an all-time high Monday.

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.