Apollo Offers Multibillion-Dollar Investment in Intel Amid Turnaround Efforts

Apollo Global Management Inc. has proposed a substantial investment in Intel Corp., potentially signaling confidence in the chipmaker`s turnaround efforts. The offer, which could reach $5 billion, is being considered by Intel, though no agreement has been reached and discussions may not result in a deal. This development coincides with Qualcomm Inc.`s potential takeover of Intel. Intel, under CEO Pat Gelsinger, is undergoing a costly restructuring that has negatively impacted its financial performance. Apollo, known for its diverse investment portfolio, has prior experience with Intel through a joint venture deal and has invested in the chipmaking sector before.