(Reuters) -Intel has approached Apple about securing an investment in the struggling chipmaker, 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, while Apple did not immediately respond to a Reuters request for comment.
The report comes days after Nvidia announced it would invest $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 center 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 chipmaker.
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 Advanced Micro Devices.
The investment from Nvidia