Apollo Global Management, a prominent alternative asset manager, has reportedly offered to invest up to $5 billion in Intel Corporation, signalling potential support for the struggling chipmaker's turnaround strategy.

The proposed investment comes as Intel faces mounting challenges and a potential takeover bid from rival Qualcomm.

According to sources familiar with the matter, Apollo has expressed willingness to make an equity-like investment of several billion dollars in Intel. The exact size of the investment remains under discussion and could change, with talks still in the preliminary stages.

Intel, once the world's most valuable chipmaker, has seen its market value plummet by nearly 60 per cent since the beginning of the year. Under the leadership of chief executive officer Pat Gelsinger, the company has embarked on an ambitious and costly plan to reinvent itself, introducing new products and technologies while seeking to attract outside customers.

However, this initiative has led to a series of disappointing earnings reports, eroding investor confidence and wiping tens of billions of dollars off Intel's market value. The potential Apollo investment could provide a much-needed vote of confidence in Gelsinger's strategy.

This is not the first time Apollo and Intel have collaborated. In June, Intel agreed to sell a stake in a joint venture controlling a plant in Ireland to Apollo for $11 billion, securing external funding for its expansive factory network plans.

The news of Apollo's potential investment coincides with reports that Qualcomm is exploring a friendly takeover of Intel. Qualcomm's chief executive officer, Cristiano Amon, is said to be personally involved in the early-stage negotiations, which could result in one of the largest mergers and acquisitions deals in history.

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