Intel Eyes Apple Investment to Fuel Its Comeback Bid

​Intel Reaches Out to Apple
Intel has quietly approached Apple about investing in the struggling chipmaker, part of CEO Lip-Bu Tan’s push to stage a comeback. Talks are still in early stages and may not result in a deal, but both companies have also discussed working more closely together.

Stock Reaction and Recent Backers
Intel shares jumped more than 6% after news broke of the talks, while Apple shares dipped slightly. The buzz comes on the heels of Nvidia’s $5 billion stake in Intel last week and SoftBank’s $2 billion investment in August — clear signals that heavyweight players see opportunity in Intel’s revival.

Apple’s Complicated History with Intel
Apple was once one of Intel’s biggest customers, relying on its chips for Macs until switching to in-house silicon in 2020. While it’s unlikely Apple will return to Intel processors, an investment could validate Intel’s turnaround efforts and strengthen U.S. tech ties.

Washington’s Stake in the Game
The Trump administration brokered a deal in August for the U.S. government to take about a 10% stake in Intel, underscoring its importance to domestic chip production. Washington views Intel as central to rebuilding America’s semiconductor edge.

The Uphill Battle
Even with support, Intel’s challenges are steep. It has lost ground to rivals like AMD and has struggled to capitalize on the AI boom dominated by Nvidia. Factory expansion plans have been delayed, and the company has been forced to cut jobs. Still, investors are more optimistic since the government’s infusion, with Intel’s stock up more than 60% since August.

Foundry Ambitions, With Caution
Intel is still chasing its dream of becoming a global foundry — producing chips for outside clients. Tan has signaled a slower rollout, saying new production methods will only launch if customers commit. Apple, which already bought Intel’s modem business in 2019, could be a crucial partner in that strategy.

Apple’s U.S. Push
Apple has pledged $600 billion in U.S. investments over four years, including a recent $2.5 billion commitment to glass supplier Corning. CEO Tim Cook has said these moves are meant to create a “domino effect” in U.S. manufacturing, adding, “We’d love to see Intel come back.”

The Bottom Line
​Intel is courting Apple as it tries to reclaim relevance in a chip industry now dominated by rivals. With government backing and big-name investors piling in, a deal with Apple could give Intel’s comeback story the validation it desperately needs.