Intel has reportedly approached Apple seeking an investment, as Intel looks to revive its struggling finances.
Apple and Intel have also discussed ways to collaborate more closely in early-stage talks, Bloomberg News reported. Intel announced a US$5 billion investment from Nvidia last week, and $2 billion from SoftBank in August.
The United States government also agreed to purchase a 9.9% stake in Intel last month. It “will make an $8.9 billion investment in Intel common stock, reflecting the confidence the Administration has in Intel to advance key national priorities and the critically important role the company plays in expanding the domestic semiconductor industry,” Intel wrote.
Intel has struggled in recent months, reporting a $2.9 billion net loss last quarter. It has lost market share to AMD in the personal computer chips sector, and has largely been unable to capitalise on the AI boom.
Apple previously included Intel’s chips in products like the MacBook, though it has largely transitioned to its own in-house chips since 2020. Apple’s processors are built by TSMC.
Apple has also massively increased its investments in the U.S. this year, often being urged to do so by the U.S. government. It said last month that its U.S. commitments would reach $600 billion across the next four years.
Last week, Intel and Nvidia said they would jointly develop data centre and computing products. Under the deal, Nvidia will invest $5 billion into Intel’s common stock.
SoftBank joined Intel’s largest 10 shareholders with its $2 billion equity investment last month. The companies also reportedly discussed the possibility of SoftBank buying Intel’s contract chipmaking business.
Intel’s (NASDAQ: INTC) share price closed at $31.22, up from its previous close at $29.34. Its market capitalisation is $145.81 billion.
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