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Intel, SoftBank Discussed a Sale. Now, a Cash Infusion Will Accelerate American AI.
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Good morning, CFOs. SoftBank’s cash infusion into Intel will accelerate AI in the U.S.; Google offers to tweak its play store terms to stave off an EU fine; and Home Depot will raise prices due to tariffs.
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SoftBank Chief Executive Masayoshi Son PHOTO: KIYOSHI OTA/BLOOMBERG NEWS
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SoftBank’s $2 billion investment in Intel offers the challenged chip maker a lifeline—and makes the Japanese conglomerate a private-sector champion in the Trump administration’s effort to revive a onetime American chip giant.
The deal could help secure future chip and AI hardware supply for large-scale projects such as SoftBank’s Stargate data-center venture and a potential artificial-intelligence and robotics hub in Arizona, according to people familiar with the matter. It could also reduce SoftBank’s reliance on Asia for chip supply, while building capacity in the U.S. Earlier this year, SoftBank held talks about buying the chip-manufacturing side of Intel’s business, which didn’t result in a deal, according to people familiar with the matter.
The investment in Intel coincides with a U.S. government rescue effort for the embattled chip maker and positions SoftBank Chief Executive Masayoshi Son as a player in another strategic priority for President Trump. Trump administration officials are discussing taking a 10% stake in Intel in a bid to improve the company’s fortunes and bolster U.S. semiconductor manufacturing.
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Content from our sponsor: Deloitte
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Graybar CFO: ‘Dig In, Be Disciplined, and Get Honest Feedback’ for Generative AI
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AI presents an opportunity to upgrade the tech stack and reshape processes to drive efficiency and growth. But leaders should first get their data in order. Read More
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📆 Earnings
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Analog Devices
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Estee Lauder
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Lowe’s
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Target
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TJX Cos.
📈 Economic Indicators
The Federal Open Market Committee releases the minutes from its late-July monetary-policy meeting.
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What Else Matters to CFOs
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Home Depot said that to offset tariffs, it is accelerating the diversification of its supply chain. PHOTO: OSCAR B. CASTILLO/BLOOMBERG NEWS
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Tariffs will soon start hitting some price tags at Home Depot. Consumers are holding off on larger home-improvement projects because of higher interest rates and economic uncertainty, but they are moving ahead with smaller projects that they can pay for with cash, Chief Financial Officer Richard McPhail said in an interview.
The company’s comparable same-store sales rose 1% in the latest quarter, though transactions fell 0.9%. Home Depot shares were up more than 3% Tuesday.
The home-improvement retailer previously said it wouldn’t raise prices as a result of tariffs, but now “there will be some modest price movement for some categories,” McPhail said. The company said that 50% of its products are sourced domestically and aren’t subject to tariffs.
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34%
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Share of companies that expect artificial intelligence will increase their use of outsourcing accounting and finance functions, according to a new survey from professional group Financial Executives International and accounting firm CohnReznick.
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The Wall Street Journal's CFO Journal offers corporate leaders and professionals CFO analysis, advice and commentary to make informed decisions. We cover topics including corporate tax, accounting, regulation, capital markets, management and strategy.
Follow us on X @WSJCFO. The WSJ CFO Journal Team comprises reporters Kristin Broughton, Mark Maurer and Jennifer Williams, and Bureau Chief Walden Siew.
You can reach us by replying to any newsletter, or email Walden at walden.siew@wsj.com.
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