• SoftBank said it’s acquiring chip designer Ampere Computing for $6.5 billion in cash.
• Ampere will operate as a subsidiary, keeping its name and headquarters in Santa Clara.
• SoftBank’s CEO said the deal was part of its commitment to AI innovation in the US.

SoftBank is acquiring Ampere Computing, a Silicon Valley-based chip design start-up, for $6.5 billion in cash, the company said in a statement Wednesday.

SoftBank said that under the agreement Ampere will keep its name and headquarters in Santa Clara, California, and operate as a subsidiary of the company.

“The future of Artificial Super Intelligence requires breakthrough computing power,” Masayoshi Son, chairman and CEO of SoftBank, said in a statement. “Ampere’s expertise in semiconductors and high-performance computing will help accelerate this vision, and deepens our commitment to AI innovation in the United States.”

Renee James, the founder and CEO of Ampere, said in a statement, “With a shared vision for advancing AI, we are excited to join SoftBank Group and partner with its portfolio of leading technology companies.”

The deal is expected to close in the second half of the year, the statement said.

Business Insider has reached out to Ampere for comment. SoftBank did not provide additional comment when reached by BI.

SoftBank’s investments in AI also include Stargate, a $500 billion joint venture with OpenAI, as well as Oracle and other investors. The project, announced in January, aims to invest the large sum in AI infrastructure in the US over the next four years.

Son, SoftBank’s CEO, appeared at the White House alongside OpenAI CEO Sam Altman, Oracle CTO Larry Ellison, and President Donald Trump when the project was announced.