SoftBank has put $12.14 billion into Intel, a bet so large it now accounts for 67% of the Japanese firm’s entire US equity portfolio, according to a 13F filing disclosed on August 14.

The filing shows SoftBank held just over 86.9 million Intel shares as of June 30. That single position dwarfs the rest of the roughly $18 billion in US stocks SoftBank reports holding, making Intel by far founder Masayoshi Son’s largest and most concentrated American bet.

The Intel wager builds on ground SoftBank had already staked out. The firm closed a $2 billion strategic investment in Intel in the third quarter of 2025, around the same time Nvidia put $5 billion into the chipmaker, giving Intel backing from two of the biggest names in AI computing.

The timing has not been kind to the position so far. Intel shares fell 26.59% between June 30 and August 14, sliding from $139.63 to $102.50, meaning SoftBank’s stake has lost significant value even as the company held firm.

Son has described SoftBank’s broader strategy as an attempt to build what Bloomberg has characterized as the next Nvidia, concentrating capital in chip and AI infrastructure plays rather than spreading bets across the sector. The Intel position fits that pattern, doubling down on a struggling chipmaker that SoftBank and Nvidia both appear to be betting can recover its footing in AI-era manufacturing.

SoftBank has kept up a fast pace of dealmaking beyond Intel. The firm was also reported in July to be in talks to acquire Japanese payments company SP.LINKS for roughly $611 million from Blackstone and Sony Bank, part of a wider push into fintech alongside its chip and AI bets.

Whether the Intel bet pays off will depend on a turnaround SoftBank is not alone in wagering on. For now, the position stands as one of the largest and riskiest disclosed holdings in Son’s long history of concentrated, high-conviction investments.