Intel Approaches Apple For Potential Investment Amid Turnaround Efforts

Benzinga

Intel held early talks with Apple on a possible investment as part of its turnaround push, following big commitments from Nvidia and SoftBank. Shares jumped on the report, though Apple is unlikely to return to Intel chips.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Intel approached Apple about a possible investment and held early talks on closer collaboration, according to Bloomberg.

00:08The approach comes after NVIDIA committed $5 billion to Intel last week and SoftBag added $2 billion last month.

00:14A deal with Apple would signal support for Intel's turnaround efforts despite their history and Apple's move to in-house chips.

00:19However, Apple is unlikely to return to Intel processors as its most advanced chips are produced by TSMC.

00:25Intel has been seeking partners as part of CEO Lip Bhutan's turnaround strategy, supported by a U.S. government-brokered 10% stake in the firm.

00:33Intel shares jumped 6.4% to $31.22 after the report, while Apple slipped less than 1% to $252.31.

00:42For all things money, visit Benzinga.com.

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