INTEL: The USA and Softbank’s Acquistion?

By A.I. and Staff Reporters

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US government mulls 10% stake in Intel as Softbank invests $2b.

According to Morning Brew, Bloomberg and the Wall Street Journal reported recently that the government is considering becoming one of the beleaguered chipmaker’s biggest shareholders by converting grants the company was given under the Biden-era Chips Act into an equity stake.

At Intel’s current valuation, a 10% stake would be worth ~$10.5 billion—though the exact size of the stake and whether the government will move forward with the plan remains to be determined.

Meanwhile, over in the private sector, Softbank agreed to buy $2 billion worth of Intel stock, giving it a ~2% stake. Intel has been trying to turn itself around after losing ground to other semiconductor companies

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DAILY UPDATE: UnitedHealth Group Still Down as Stock Markets Dips with Chip Makers

By Staff Reporters

Tomorrow is the start of daylight saving time. Enjoy the extra hour of evening light.

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UnitedHealth Group is laying out a timeline to restore its systems as a cyberattack on its Change Healthcare subsidiary continues to disrupt the health care industry for nearly a third week. The company said Thursday it’s still working “aggressively” to restore its services after the attack Feb. 21st caused it to shut down its insurance claims and payment platforms, leaving health care providers and pharmacies across the nation unable to process prescriptions or pay employees, but as of now, its electronic prescribing is back to being “fully functional.”

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Stocks tumbled yesterday, giving the Dow its worst week since October as Nvidia’s seemingly unstoppable rally…stopped. Meanwhile, bitcoin notched another record, hitting $70,000 for the first time before the volatile cryptocurrency retreated.

Government: The Senate passed vital funding bills just barely ahead of a shutdown deadline, ensuring the government can stay open—at least for now. But they still need to pass more before March 22nd.

Here’s where the major benchmarks ended:

  • The S&P 500 index (SPX) fell 33.67 points (0.7%) to 5,123.69, down 0.3% for the week; the Dow Jones Industrial Average® ($DJI) lost 68.66 points (0.2%) to 38,722.69, down 0.9% for the week; the NASDAQ Composite (COMP) dropped 188.26 points (1.2%) to 16,085.11, down 1.2% for the week.
  • The 10-year Treasury note yield (TNX) fell more than 1 basis point to 4.079%.
  • The CBOE Volatility Index® (VIX) rose 0.30 to 14.74.

The Philadelphia Semiconductor Index (SOX) sank 3.5% Friday but still gained 0.6% for the week, its third straight weekly advance. Bank and utility shares were among the market’s few areas of strength, and small-cap stocks held up relatively well. The Russell 2000® Index (RUT) fell 0.1% after earlier climbing to a two-year high but still added 0.3% for the week, its fourth weekly gain in the past five.

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