Apollo said to offer up to $5B investment in Intel

Apollo Global Management (NYSE:APO) has offered to invest billions of dollars into troubled chipmaker Intel (NASDAQ:INTC), according to Bloomberg, which quoted people familiar with the matter.

According to the report Sunday, one person reportedly said the investment could be worth up to $5B. Intel is considering the proposal, the people were quoted as saying.

Bloomberg reported that the people said a deal has not been finalized, and talks could fall through.

Apollo and Intel declined to comment, Bloomberg said.

The possible deal comes as Qualcomm (QCOM) reportedly approached Intel recently about taking over the company.

The reported interest in Intel comes amid its ongoing financial struggles and efforts to streamline operations, which may involve divesting certain business units. Intel shares have fallen 54.3% this year through Friday.

Reuters reported earlier this month that Qualcomm has looked into the potential acquisition of Intel’s design business as the mobile chipmaker looks to improve its product line. The news agency reported late last month that Intel was considering such options as splitting its foundry business and possibly scrapping factory projects.