Intel chief executive Pat Gelsinger is struggling to convince sceptical markets about this turnaround plan. Photograph: Annabelle Chih/Bloomberg via Getty ImagesApollo Global Management has offered to make a multibillion-dollar investment in Intel in a move that would be a vote of confidence in the chipmaker’s turnaround strategy.
Nothing has been finalised, the size of the potential investment could change and discussions could fall through, resulting in no deal, the people added. While Apollo may best be known today for its insurance, buyout and credit strategies, the firm started out in the 1990s as a distressed-investing specialist.
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