Japan’s SoftBank will invest $2 billion into struggling American chipmaker Intel, the two companies announced Monday.

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SoftBank will pay $23 per share of Intel common stock, according to a statement from the companies . Intel shares rose 6% in after-hours trading.

The news comes just days after reports that the White House is discussing taking a stake in Intel. Reports on Monday put the government’s possible stake at 10% of the chipmaker, worth roughly $10.5 billion.

The once-formidable Intel has fallen behind its rivals after failing to adapt to technology advances.

President Donald Trump and Intel CEO Lip-Bu Tan met last week following reports and allegations that the latter has ties to China. Trump des

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