Intel shares surged 6% in premarket trading after SoftBank announced a $2 billion investment in the U.S. chipmaker. SoftBank will pay $23 per share, slightly lower than Monday’s closing price. This strategic move aims to expand semiconductor manufacturing in the U.S. Last month, Intel reported a sales beat but an unexpected loss, leading to layoffs. Intel shares are up 18% this year.

Read more at Yahoo Finance: Intel Stock Jumps as SoftBank Invests $2B in Struggling Chipmaker