Intel receives $5 billion investment offer from Apollo for turnaround

Apollo, a prominent alternative asset manager, has expressed interest in making a significant equity-like investment of up to $5 billion in Intel. This proposal comes as Intel's executives are evaluating the offer amidst ongoing discussions about the company's future. The potential investment is seen as a sign of confidence in Intel's turnaround strategy, which has faced challenges, including disappointing earnings reports that have affected its market value. Meanwhile, Qualcomm Inc. has also shown interest in a friendly takeover of Intel, which could lead to one of the largest mergers and acquisitions in the tech industry. Intel's current CEO, Pat Gelsinger, is spearheading a costly initiative aimed at revitalizing the company by introducing new products and attracting outside customers. However, the initiative has been met with skepticism due to the recent financial struggles, raising concerns about the company's ability to execute its turnaround plan effectively. As discussions with Apollo progress, the size of the investment may change, and there is a possibility that negotiations could ultimately fall through, leaving Intel to navigate its challenges independently.