Apollo Proposes Up to $5 Billion Investment in Intel, Bloomberg Reports

Sep 22, 2024, 09:55 PM

Apollo Global Management has proposed a multibillion-dollar investment in Intel, with the offer potentially reaching up to $5 billion, according to Bloomberg reports. This equity-like investment is seen as a vote of confidence in Intel's turnaround strategy. The proposal comes amid Qualcomm's interest in acquiring Intel, which has recently secured a $3.5 billion chips deal from the US Army and announced a partnership with AWS to advance US-based chip manufacturing. Intel is currently considering Apollo's proposal.