Intel Corp (NASDAQ:INTC, ETR:INL) has reached out in hopes of securing an investment from Apple Inc (NASDAQ:AAPL, ETR:APC), Bloomberg reported late Wednesday, citing people familiar with the matter.
The media outlet also noted that Apple and Intel have discussed working more closely together.
Apple had been a longtime customer of Intel before developing its own in-house chip in 2020.
Apple also acquired most of Intel’s modem chip business in 2019.
Last week, Nvidia Corp announced that it would make a $5 billion investment in Intel and plans to work with company to produce chips for personal computers and data centers.
Intel also received a $2 billion investment from SoftBank Group last month.
In August, the US government acquired about 10% of Intel’s equity as part of its efforts to reinvigorate domestic semiconductor production.
Intel shares rose more than 2.7% to $32.05 in early trading on Thursday, following a 6% gain on Wednesday.