Chipmaking firm Intel is looking for an investment from tech giant Apple, as per a Bloomberg report. The talks are supposedly still in the preliminary stages with no final deal on the table.
The update comes a week after Intel secured a $5 billion investment from NVIDIA, as part of a broader collaboration to build chips for data centers and PCs—giving Intel an entry into the AI sector, forming deals on the table from both the public and private sector to help the chipmaking company maintain relevance as tech companies deepen their involvement in this emerging sector.
The Bloomberg report has said the company is still reaching out to other companies for potential deals and partnerships.
Intel also secured a $2 billion equity investment from SoftBank the previous month.
Alongside private sector investments, the White House agreed to a deal for a 10% investment in the company.
If Intel is able to secure the required investment, it would signal a positive boost for the company. Apple and Intel had been collaborating significantly, with Apple purchasing chips from Intel till 2020, until it started to make its own, according to Reuters.
Source: Google Finance
Intel shares closed at $33.99 per share on Thursday. Although the company’s shares have been growing in value on a YTD basis, registering growth of 68.10%, the stock has decreased by 31.94% in value over the past five years.