Apollo Global Management Offers Up to $5 Billion Investment in Intel: Report

New Delhi: US based asset management firm Apollo Global Management has reportedly offered to invest up to $5 billion in Intel, according to a Bloomberg News report. As per the report, the offer was made in recent days. The report also says Apollo expressing interest in making an equity-like investment in the struggling chipmaker. The news was shared by someone familiar with the matter, Bloomberg reported.

What Bloomberg Report Says?Intel, once the world’s most valuable chipmaker, has seen its shares fall by nearly 60 per cent since the start of the year. The continuous down fall of the company's stock price has put the company in a challenging position. Apollo's investment proposal comes at a crucial time for Intel, but the talks are still in early stages, and no deal has been finalized, the report said. There is also a chance that discussions could fall through or that the investment amount may change. What Intel And Apollo Says?Intel has not commented on the report, and Apollo has not responded to requests for further information, according to Bloomberg. Earlier this year, Apollo made a significant investment in Intel. The firm acquired a 49 per cent stake in a joint venture related to Intel's new manufacturing facility in Ireland for $11 billion. Other Similar ReportThe news of Apollo's potential investment follows reports that Qualcomm has also shown interest in Intel. In recent days, Qualcomm has approached Intel about a possible acquisition, which could significantly shake up the chip industry. Qualcomm's CEO, Cristiano Amon, is personally involved in the negotiations, which are still in the early stages. Qualcomm has previously explored acquiring parts of Intel’s chip design business.\( With Reuters Inputs)