Intel shares jumped after reports it approached Apple about a possible investment and collaboration. The talks follow big stakes from Nvidia, SoftBank, and the U.S. government as Intel seeks to regain ground in the AI chip race.
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00:02Intel shares climbed on Wednesday after reports said the company reached out to Apple about a potential investment in broader collaboration.
00:09According to Reuters, the discussions are early and may not lead to a deal.
00:12Intel CEO Lip Bhutan has been courting partners as the company works to catch up with rivals NVIDIA and AMD in the AI race.
00:19NVIDIA recently disclosed a $5 billion investment in Intel for a 4% stake, while SoftBank and the U.S. government also hold positions.
00:26Four former directors last week urged Intel to consider going private and restructuring to regain competitiveness against global players like TSMC.
00:34Intel closed on Wednesday on 6.41% at $31.22, according to Benzinga Pro.
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