Intel has approached Apple about securing an investment in the struggling chip maker, Bloomberg News reported on Wednesday, citing people familiar with the matter.

The iPhone maker and Intel have also discussed how to work more closely together, the report said, adding that the talks are at an early stage and may not lead to an agreement. Shares of Intel closed 6% higher after the news.

Intel declined to comment; Apple did not immediately respond to a request for comment.

The report comes days after Nvidia announced it would invest US$5-billion in Intel for a roughly 4% stake in the company.

Nvidia’s pact with Intel includes a plan for the two companies to jointly develop PC and data centre chips, but crucially, will not involve Intel’s contract manufacturing business — or foundry — making computing chips for Nvidia.

Intel CEO Lip-Bu Tan has been trying to bring in partners as part of a turnaround at the ailing chip maker.

Once the chip industry’s flag bearer that claimed to put the “silicon” in Silicon Valley, Intel has struggled to compete in the booming AI race, falling behind peers such as Nvidia and AMD.

Cash infusions

The investment from Nvidia came just weeks after the White House engineered an extraordinary deal for the federal government to take a 10% stake in Intel, an agreement that would ensure the company receives about $10-billion in funds for building or expanding factories in the US.

Intel also received another $2-billion equity investment from SoftBank Group last month.

The cash infusions in Intel have pushed up investor sentiment, with the stock climbing more than 40% since mid-August.

Read: Nvidia bets $100-billion on OpenAI

The reported investment from Apple would come as another vote of confidence for Intel. Apple had been a longtime customer of Intel before it transitioned to using its own custom-designed silicon chips from 2020.

For Apple, which relies heavily on Intel’s rival TSMC to manufacture its chips, the new partnership would allow it to diversify its chip-making supplier base — a move that could be valuable if geopolitical risks in Taiwan worsen due to China’s role in the region.

The potential investment in the US would also help strengthen Apple’s relationship with US President Donald Trump. While much of Apple’s supply chain remains international, the company has committed about $600-billion to domestic initiatives over the next four years.

In response to a query on whether the Trump administration had conversations with Intel or Apple about an investment, and if it would support such a deal, White House spokesman Kush Desai said: “The US government is not involved in Intel’s day-to-day operations.”

“The taxpayer has an equity stake in Intel succeeding, and the administration supports iconic American companies like Intel doing what’s best to cement American tech dominance.”

Read: Snapdragon X2 Elite targets Intel’s enterprise stronghold

Striking lucrative partnerships and persuading outside clients to use Intel’s factories remain key to its future. The Santa Clara, California-based company has also reached out to other companies about possible investments and partnerships, according to the Bloomberg News report. — Deborah Sophia, (c) 2025 Reuters

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