Investment Offer from Apollo Global Management

Investing.com — Asset manager Apollo Global Management (NYSE:APO) has proposed an investment of up to $5 billion in troubled chipmaker Intel Corporation (NASDAQ:INTC), as reported by Bloomberg on Sunday.

The asset manager expressed a willingness to make an equity-like investment in Intel, which is currently being considered by the chipmaker’s top management.

This investment could provide Intel with essential financial leeway amidst a significant decline in sales and fears of a cash shortage. In response, Intel is implementing a major restructuring plan, which includes potential job cuts affecting up to 15,000 employees this year, along with possible separation of its foundry and design businesses.

Earlier this year, Apollo indicated plans to acquire a 49% interest in a joint venture for Intel’s new production facility in Ireland for $11 billion.

Recent reports from Reuters also suggested that Qualcomm Incorporated (NASDAQ:QCOM) is weighing a takeover of Intel, although this proposal might face numerous regulatory challenges.

Intel, once the world’s most valuable chipmaker, has seen its stock plunge 60% this year due to its struggles against competitors such as TSMC (NYSE:TSM) and NVIDIA Corporation (NASDAQ:NVDA).