(Reuters) – U.S. asset manager Apollo Global Management Inc (NYSE:) has offered to invest up to $5 billion in Intel Corp (NASDAQ:), Bloomberg News reported on Sunday.
Apollo has indicated in recent days that it is prepared to make a multibillion-dollar equity-like investment in Intel, the report said, citing a person familiar with the matter.
The news comes at a vulnerable moment 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.
Bloomberg reported that Intel executives are studying Apollo’s offer, adding that talks on the deal are in the early stages and have not yet been finalized.
Bloomberg said the size of the potential investment in Intel could change, and discussions about the deal could also fail.
Apollo and Intel did not immediately respond to a Reuters request for comment.
Earlier this year, Apollo announced it would acquire a 49% stake in a joint venture tied to Intel’s new manufacturing facility in Ireland for $11 billion.
The development of the Intel investment comes shortly after Qualcomm Inc. (NASDAQ:) approached Intel in recent days to explore the possibility of acquiring the struggling chipmaker in a deal that could be transformative for the sector but faces several hurdles.
Qualcomm CEO Cristiano Amon is personally involved in negotiations to buy the five-decade-old Intel Corp, which are currently in an early stage, Reuters reported on Friday, citing a source familiar with the matter.
Previously, Qualcomm also explored the possibility of acquiring parts of Intel’s chip design business.