Intel Is Said to Seek Apple Investment as Part of Turnaround Bid

Intel Corp. has approached Apple Inc. about securing an investment in the ailing chipmaker, according to people familiar with the matter, part of efforts to bolster a business that’s now partially owned by the US government.

Apple and Intel also have discussed how to work more closely together, said the people, who asked not to be identified because the deliberations are private. The talks have been early-stage and may not lead to an agreement, the people said.

Intel CEO Lip-Bu Tan has been lining up partners as part of a turnaround bid.

Photographer: Annabelle Chih/Bloomberg

Shares of Intel gained as much as 7.9% in New York trading on Thursday. They had jumped 6.4% the previous day after ...