Intel is getting a $2 billion capital injection from SoftBank Group in a major vote of confidence for the troubled U.S. chipmaker in the middle of a turnaround. The equity investment, announced by the companies on Monday,

Money might not be the solution to Intel Corp.’s problems.

SoftBank is investing $2 billion in Intel, even as the White House is considering taking a 10% stake in chipmaker per reports, as talks with the company and Trump's team advance.

SoftBank will invest $2 billion into Intel as the struggling chipmaker pulls back on spending and lays off thousands of workers. In an announcement, SoftBank CEO Masayoshi Son said the investment aligns with the firm’s belief that “advanced semiconductor manufacturing and supply will further expand in the United States.”

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The move is part of SoftBank's investing initiatives in the US, which also includes commitments towards AI computing. Intel, which has lagged behind in the chip race after being the erstwhile market leader,