2024-09-23 06:18:03 :
U.S. asset management firm Apollo Global Management has offered to invest up to $5 billion in Intel, Bloomberg reported on Sunday.
The report quoted a person familiar with the matter as saying that Apollo recently expressed its willingness to make billions of dollars in equity investment in Intel.
The news comes at a time of weakness for Intel. The company was once the world’s most valuable chipmaker, but its shares have fallen nearly 60% since the beginning of the year.
Intel executives have been weighing Apollo’s proposal, Bloomberg reported, adding that talks about the deal are in the preliminary stages and have not yet been finalized.
Bloomberg said the size of a potential investment in Intel could change and discussions about a deal could fail.
Intel declined to comment on the Bloomberg News report, while Apollo did not respond to a Reuters request for comment.
Earlier this year, Apollo said it would acquire a 49% stake in a joint venture related to Intel’s new manufacturing plant in Ireland for $11 billion.
Qualcomm has approached Intel in recent days to explore the possibility of acquiring the struggling chipmaker, in what could be a transformative deal for the industry but faces many hurdles.
Qualcomm Chief Executive Cristiano Amon is personally involved in talks to acquire five-year-old Intel Corp, with talks still in the early stages, Reuters reported on Friday, citing a person familiar with the matter.
Previously, Qualcomm also explored acquiring parts of Intel’s chip design business.
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