Overview

• Bloomberg reported that Intel approached Apple about an investment, with discussions described as early and uncertain, and neither company offering comment.
• The companies have also explored ways to work more closely together, though potential areas of cooperation were not detailed.
• Intel shares rose about 6% after the report, while Apple’s stock edged lower by roughly 1%.
• Nvidia recently committed $5 billion for about a 4% Intel stake and a chip co-development pact that did not include using Intel’s contract manufacturing.
• This effort follows a roughly 10% U.S. government stake and a $2 billion SoftBank investment, and comes as Apple has moved Macs to its own TSMC-built chips, making a CPU return unlikely.