“Asset manager Apollo considering multi-billion dollar investment in Intel”

Intel has been struggling lately and has also been the subject of takeover speculation. Led by CEO Pat Gelsinger, the company has been working on a plan to reinvent itself, attracting new products, technologies and external customers. But the initiative has led to a series of disappointing quarterly results, undermining confidence in the strategy and wiping out tens of billions of dollars in market value.

Meanwhile, fellow sector player Qualcomm appears to be interested in acquiring Intel. An attempt at rapprochement has reportedly already been made, Bloomberg reported last weekend after confirmation from insiders. If a deal is reached, it could be one of the largest acquisitions ever.

But Intel still believes that the recovery plan can be sufficient to continue operating independently, according to insiders. In that light, Apollo’s willingness seems a welcome development. The asset manager is said to be prepared to invest up to $5 billion, one of the sources says.

Apollo, Intel and Qualcomm also declined to comment on the rumors.