Intel Corp. is reportedly in preliminary talks with Apple Inc. over a potential investment, according to Bloomberg. The chipmaker, which has struggled in recent years against rivals AMD and Nvidia, is seeking new partnerships to strengthen its global position. While the discussions are still in early stages and no agreement is confirmed, the possibility of Apple joining Intel’s revival plan has already stirred investor interest.

Following the news, Intel shares surged 6.4% to $31.22, while Apple’s stock dipped slightly to $252.31. The talks follow a wave of investments in Intel, including $5 billion from Nvidia and $2 billion from SoftBank. The US government also holds about a 10% stake, acquired in August, underscoring Intel’s strategic importance in domestic semiconductor production.

Intel CEO Lip-Bu Tan is working on stabilizing the company with a cautious approach to its foundry expansion. Despite facing setbacks in securing customers and losing ground in the AI hardware market, Intel’s stock has gained more than 60% since early August, reflecting optimism around its turnaround.

For Apple, a potential investment would be strategic rather than a return to Intel chips. Apple phased out Intel processors from Macs in 2020, shifting to its in-house Apple Silicon built by TSMC. However, Apple CEO Tim Cook recently emphasized the importance of supporting domestic chipmaking. Speaking at a White House event, he remarked that Intel’s comeback would be good for competition, noting, “We’d love to see Intel come back.”