Intel could get a substantial multibillion-dollar investment from Apollo Global Management Inc., according to a recent report by Bloomberg which relies on inside information from people familiar with the matter. It is said that Apollo is willing to invest up to $5 billion in Intel, and it is worth noting that this came up just after rumors about Qualcomm’s intentions for a friendly takeover of Intel emerged last week. Intel and Apollo representatives have declined to comment thus far, however, it is said that Intel executives have been weighing Apollo’s proposal.
Apollo is not a newcomer to the chipmaking industry; in 2023, the New York-based company made a $900 million investment in Western Digital buying convertible preferred stock. As for Intel and Apollo, they are no strangers to each other. Just this past June, Intel agreed to sell a stake in a joint venture that controls Intel’s Fab 34 plant in Ireland to Apollo for $11 billion. While rumors come and go, one thing is for sure: Intel’s short-term future relies on the success of its upcoming products like Arrow Lake desktop architecture to be released on October 24, and its foundry business division.