SoftBank Group Corp. agreed to buy $2 billion of newly issued Intel Corp. common stock at $23 a share, giving the Japanese conglomerate an equity stake of roughly 2 % and making it one of the U.S. chipmaker’s 10 largest shareholders. The companies said the deal will “deepen their commitment” to advanced technology and U.S. semiconductor manufacturing. “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,” SoftBank Chief Executive Officer Masayoshi Son said in a statement accompanying the announcement. Proceeds provide a cash infusion for Intel as Chief Executive Officer Lip-Bu Tan pursues a costly turnaround aimed at regaining technological leadership and expanding the company’s foundry services. Intel shares, which fell 60 % last year, rose more than 5 % in late trading after the deal was disclosed. The purchase extends SoftBank’s recent spending spree in U.S. technology assets, which has included large commitments to OpenAI and plans for multibillion-dollar data-center projects. It also comes amid reports that the U.S. government is weighing its own stake of up to 10 % in Intel as Washington seeks to bolster domestic chipmaking.