(Reuters) -U.S.-based asset management company Apollo Global Management has offered to make an investment of as much as $5 billion in Intel, Bloomberg News reported on Sunday. Apollo has indicated in recent days it would be willing to make an equity-like investment of billions of dollars in Intel,

Apollo Global Management Inc. has offered to make an investment in Intel Corp. of as much as $5 billion, Bloomberg News reported Sunday.

There is a recent precedent for the deal. Earlier this year, Apollo gave Intel $11 billion to acquire a 49% stake in the company’s Fab 34 chip manufacturing facility in Leixlip, Ireland, in a deal that would help fund the ongoing development of the site, officials said at the time.

Apollo Global Management has proposed an investment of up to $5 billion in Intel, amid struggles for the chipmaker whose shares have plunged 60% this year. Intel executives are evaluating the offer, while talks remain preliminary.

Apollo Global Management Inc. has offered to make a multibillion-dollar investment in Intel Corp., according to people familiar with the matter, in a move that would be a vote of confidence in the chipmaker’s turnaround strategy.

Apollo Global Management has offered to make an investment of as much as $5 billion in Intel. The development comes shortly after Qualcomm in recent days approached Intel to explore a potential acquisition of the company.

U.S.-based asset management company Apollo Global Management has offered to make an investment of as much as $5 billion in Intel , Bloomberg News reported on Sunday.

Apollo Global Management, an asset management company based in the U.S., has proposed an investment of up to $5 billion in Intel. The potential equity-like investment is currently under consideration by Intel executives.

U.S.-based asset management company Apollo Global Management has offered to make an investment of as much as $5 billion in Intel, Bloomberg News reported on Sunday. Apollo has indicated in recent days it would be willing to make an equity-like investment of billions of dollars in Intel, the report said, citing a person familiar with the matter.

The development comes as San Diego-based Qualcomm Inc. floats a friendly takeover of Intel, people with knowledge of the matter said on Saturday, raising the prospect of one of the biggest-ever M&A deals.

An Apollo investment would be a vote of confidence in the chipmaker’s turnaround strategy.