(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.
Intel and Apple did not immediately respond to a Reuters request for comment.
Shares of Intel closed 6% higher after the news.
Intel CEO Lip-Bu Tan has been lining up partners as part of a turnaround at the ailing chipmaker, which has struggled to compete in the booming AI race, falling behind peers such as Nvidia and Advanced Micro Devices.
Just last week, Nvidia announced it would invest $5 billion in Intel for a roughly 4% stake in the company. That came just weeks after the White House engineered an extraordinary deal for the federal government to take a massive stake in the company.
Intel has also received an investment from SoftBank Group.
Intel has also reached out to other companies about possible investments and partnerships, according to the Bloomberg News report.
Persuading outside clients to use Intel’s factories remains key to its future. As its 18A fabrication process faced delays, rival TSMC’s N2 technology has been on track for production.
(Reporting by Deborah Sophia in Bengaluru; Editing by Shinjini Ganguli)
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