Intel in talks with large investors for equity boost at discount, CNBC reports
(Reuters) -Intel is in talks with other large investors to receive an equity infusion at a discounted price, CNBC reported on Wednesday, just days after the chipmaker got a $2 billion capital injection from SoftBank Group.
This also follows Reuters report U.S. Commerce Secretary Howard Lutnick is looking into the government taking equity stakes in Intel and other chipmakers in exchange for grants under the CHIPS Act, which aims to spur factory-building in the U.S.
Intel did not immediately respond to a Reuters request for comment.
Silicon Valley pioneer Intel has been struggling from years of missteps in its manufacturing operation and missed opportunities around the artificial intelligence boom, culminating into one of the most difficult periods in the company's history.
The company lost its competitive edge years ago to Taiwan Semiconductor Manufacturing Co, the globe's biggest contract manufacturer. Chip designer Nvidia is dominating in the AI chips market, while Intel is losing market share in PCs and datacenters to rival Advanced Micro Devices.
(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Arun Koyyur)
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