Apollo Global Management has proposed a significant investment in Intel, potentially up to $5 billion, signaling strong support for Intel’s strategic revival efforts.
This move comes amidst Intel’s challenges, reflecting Apollo’s belief in the chipmaker’s future. Discussions are ongoing, with no final agreement yet, but the offer underscores Apollo’s confidence in Intel’s turnaround plan.
This development follows Intel’s recent joint venture with Apollo for a manufacturing facility in Ireland, highlighting continued financial backing from Apollo for Intel’s expansion and innovation in the semiconductor industry.
This news comes at a time when Intel is trying to transform its business under its CEO, Pat Gelsinger, who has been pushing for new technologies and products.
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However, these efforts have not been going smoothly, with Intel facing several disappointing financial reports recently, which have significantly reduced its stock market value.
Intel has not made a final decision on accepting Apollo’s offer, and discussions are still ongoing. This means the deal might change or could even not happen at all.
This potential investment is happening while another company, Qualcomm, based in San Diego, has also shown interest in possibly buying Intel in what could be one of the largest deals in the tech industry.
Previously, Apollo and Intel have worked together. Earlier this year, Intel sold part of its business in Ireland to Apollo for $11 billion, which was part of Intel’s strategy to fund its expansion plans.
Apollo isn’t new to investing in tech companies. Last year, it led a $900 million investment into Western Digital Corp., another company in the chip-making industry.
Both Apollo and Intel have chosen not to comment on this potential investment.
