Intel has approached Apple about a potential investment, according to sources familiar with the matter, as the chipmaker looks for partners to support a turnaround effort.

Intel, based in Santa Clara, California, has also contacted other companies about possible investments and partnerships.

Recent investments in Intel include US$5 billion from Nvidia and US$2 billion from SoftBank Group Corp. in the past month.

Apple and Intel have held early discussions about closer cooperation, but no agreement has been reached, and talks may not progress, the sources said.

Apple previously relied on Intel chips for its Macs but shifted to using its own processors starting in 2020.

Intel shares rose 6.4% after news of the talks emerged.

🔗 Source: Bloomberg

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