Beleaguered chip manufacturer Intel will receive a much-needed $2 billion capital injection from the Japanese venture capital giant, SoftBank Group, a move that signals the latter's increasing desire to attain a foothold in the bourgeoning semiconductor industry, reported Reuters on Tuesday.

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

SoftBank Group Corp. agreed to buy $2 billion of Intel Corp. stock, a surprise deal to shore up a struggling US name while boosting its own chip ambitions.