SoftBank Group Corp said on Wednesday it would acquire Ampere Computing, a U.S. chip startup founded by the former president of Intel that is increasingly focused on artificial intelligence, in a $6.5 billion all-cash deal.

SoftBank Group Corp. has announced it will acquire US-based chip startup Ampere Computing in an all-cash deal worth $6.5 billion.

In a deal worth $6.5 billion, SoftBank Group has acquired Ampere Computing, a US-based start-up famous for its ARM-based server chips. It was established in 2017. The Carlyle Group and Oracle, which currently own stakes in Ampere, have agreed to sell their shares as part of the transaction.