Japanese multinational investment firm SoftBank Group Corp. and global technology firm Intel Corporation announced Tuesday their signing of a definitive securities purchase agreement, under which SoftBank will make a $2 billion investment in Intel common stock.

The investment comes as both Intel and SoftBank deepen their commitment to investing in advanced technology and semiconductor innovation in the United States, Softbank said in a statement.

“Semiconductors are the foundation of every industry. For more than 50 years, Intel has been a trusted leader in innovation,

“This strategic investment reflects our belief that advanced semiconductor manufacturing and supply will further expand in the United States, with Intel playing a critical role,” said Masayoshi Son, Chairman and Chief Executive Officer of SoftBank Group Corp.

Under the terms of the agreement, SoftBank will pay $23 per share of Intel common stock.

The transaction is subject to customary closing conditions.

SoftBank’s investment in Intel builds upon its long-term vision of enabling the artificial intelligence (AI) revolution by accelerating access to advanced technologies that support digital transformation, cloud computing, and next-generation infrastructure.

“We are very pleased to deepen our relationship with SoftBank, a company that’s at the forefront of so many areas of emerging technology and innovation and shares our commitment to advancing U.S. technology and manufacturing leadership,

“Masa and I have worked closely together for decades, and I appreciate the confidence he has placed in Intel with this investment,” said Lip-Bu Tan, Chief Executive Officer of Intel.

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