Apollo proposes $5 bln investment in Intel- Bloomberg
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Apollo Global Management has proposed an investment of up to $10 billion in Intel Corporation, as reported by Bloomberg. This equity-like investment aims to provide Intel with financial relief amid declining sales and a potential cash crunch. Intel is undergoing major restructuring, including job cuts and possible separation of its foundry and design businesses. Earlier, Apollo announced plans to acquire a 49% stake in a joint venture for Intel's new production facility in Ireland. Intel's shares have dropped 60% this year, struggling against competitors like TSMC and NVIDIA.
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