(Reuters) -U.S. asset management firm Apollo Global Management has offered to make an investment of as much as $5 billion in Intel, Bloomberg News reported on Sunday.
Apollo has indicated in recent days that it is willing to make a billion-dollar equity investment in Intel, the report said, citing a person familiar with the matter.
The news comes at a time of weakness for Intel, once the world’s most valuable chipmaker but whose shares have lost nearly 60% of their value since the start of the year.
Intel executives have been considering Apollo’s proposal, Bloomberg reported, adding that talks on the deal are in a preliminary stage and have not yet been completed.
Bloomberg said the size of the potential investment in Intel could change and discussions about a deal could also fail.
Apollo and Intel did not immediately respond to a Reuters request for comment.
Earlier this year, Apollo said it will acquire a 49% equity stake in a joint venture related to Intel’s new manufacturing facility in Ireland for $11 billion.
The development for an investment in Intel comes shortly after Qualcomm approached Intel in recent days to explore a possible acquisition of the troubled chipmaker in what could be a transformational deal in the sector but faces many hurdles.
Qualcomm CEO Cristiano Amon is personally involved in negotiations to acquire five-decade-old Intel, which are currently in their early stages, Reuters reported on Friday, citing a source briefed on the matter.
Qualcomm has also previously explored acquiring parts of Intel’s chip design business.
(Reporting by Mrinmay Dey in Bengaluru; Editing by Lisa Shumaker)