Apollo Global Management Proposes $5 Billion Investment in Intel Amid Turnaround Strategy

Apollo Global Management Inc. is looking to bolster Intel Corp. with a potential multibillion-dollar investment, signaling confidence in the chipmaker’s turnaround efforts. Sources indicate that Apollo may invest up to $5 billion in an equity-like deal, though details remain fluid and negotiations could still fall through.

Intel executives are currently considering Apollo’s proposal, which comes as Qualcomm Inc. explores a friendly takeover of Intel, potentially leading to one of the largest mergers and acquisitions in the industry. Under CEO Pat Gelsinger, Intel is undergoing an ambitious transformation to enhance its product offerings and attract new customers, despite facing declining earnings that have impacted its market value.

Apollo, originally a distressed-investing specialist, has a history with Intel, having recently sold a stake in a joint venture controlling a plant in Ireland for $11 billion, which supports Intel’s factory expansion plans. The firm also led a $900 million investment in Western Digital Corp. last year, highlighting its growing footprint in the semiconductor sector.