Intel and Arm Holdings rallied premarket after SoftBank Group founder Masayoshi Son cited both companies' growth potential in a call with investors.
Intel shares rose ahead of peers in European premarket trade, gaining 2.25%, while Arm jumped 3.5%. Both companies were caught up in the global selloff in stocks linked to artificial intelligence.
Shares in chip-design group Arm have more than tripled in value so far this year, but Son told investors that the company's current valuation is just the beginning. Speaking at an annual shareholder meeting in Tokyo on Wednesday, Son said he sees Arm's value growing tenfold.
Son said Santa Clara-based Intel's manufacturing capability will be increasingly important as tech giants look to diversify their supply away from Taiwan Semiconductor Manufacturing Company. Intel is also a crucial national security asset for the U.S., Son said.
Son is an interested party, given SoftBank's stakes in both companies.
SoftBank holds an 86.39% stake in Arm via a U.K.-domiciled unit of its Vision Fund, according to data provider LSEG. After acquiring the chip designer in 2016, SoftBank took Arm public in 2023.
The Japanese investment firm is also Intel's eighth largest shareholder, with a 1.73% stake, according to LSEG. SoftBank invested $2 billion in the chip maker in August 2025.
Write to Joe Stonor at josephmichael.stonor@wsj.com
(END) Dow Jones Newswires
June 24, 2026 05:12 ET (09:12 GMT)
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