
Apollo Proposes $5 Billion Investment in Intel – Bloomberg
Apollo Global Management has proposed an investment of up to $5 billion in the struggling chipmaker Intel Corporation, according to a recent report. The asset manager expressed its willingness to make an equity-like investment, which is currently under consideration by Intel’s top management.
This investment could provide Intel with much-needed financial relief as the company faces a significant decline in sales and a potential cash crunch. As part of a major restructuring effort, Intel plans to divest several business units and has already announced plans to cut approximately 15,000 jobs earlier this year. There is also speculation that Intel may separate its foundry business from its design operations.
Earlier this year, Apollo Global Management indicated its intention to acquire a 49% stake in a joint venture for Intel’s new production facility in Ireland for $11 billion.
Additionally, Qualcomm has reportedly been contemplating a takeover of Intel, although any such deal would likely encounter various regulatory challenges.
Once recognized as the world’s most valuable chipmaker, Intel’s stock has suffered a 60% decline this year, as it has struggled to keep pace with competitors such as TSMC and NVIDIA in recent years.