Intel Stock Jumps on Report It Is Seeking an Investment From Apple

Intel shares are up 56% this year. (Justin Sullivan/Getty Images)

Key Points

About This Summary

• Intel stock rose 6.4% on Wednesday following a report of early-stage investment talks with Apple.
• Intel has recently secured significant investments, including $5 billion from Nvidia and $2 billion from SoftBank.
• The U.S. government also agreed to an $8.9 billion investment in Intel shares in August.

Intel stock surged late Wednesday after Bloomberg reported that the chip maker had approached Apple asking for an investment.

The article cited people familiar with the matter, noting that talks have been in an “early stage” and may not lead to a deal.

Intel declined to comment on the report. Apple didn’t immediately respond to a request for comment.

Intel stock closed up 6.4% at $31.22 on Wednesday and was 0.9% higher in after-hours trading. Apple shares fell by 0.8% and were flat in the after-hours session.

The chip maker has recently been raising capital from a variety of sources. Last week, Intel announced a new partnership with Nvidia , part of which entails Nvidia investing $5 billion in Intel stock.

In August, Intel also announced a $2 billion investment from Japan’s SoftBank . That same week, Intel announced an agreement for the U.S. government to make an $8.9 billion investment in Intel shares.

Write to Tae Kim at tae.kim@barrons.com