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Intel Seeks Investment from Apple Amid Turnaround Push, Report Says

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Intel has approached Apple about a potential investment, according to a Bloomberg News report on Wednesday citing people familiar with the matter. The discussions, which also cover ways to work more closely together, are still in the early stages and may not result in a deal. Intel shares closed up 6% following the news.

Intel declined to comment, while Apple has not responded to requests.

The report follows Nvidia’s $5 billion investment for roughly a 4% stake in Intel, announced earlier this week. That deal included plans for the companies to co-develop PC and data center chips, though Nvidia will not use Intel’s foundry business to manufacture its chips.

Intel CEO Lip-Bu Tan has been actively pursuing partnerships as part of efforts to revive the struggling chipmaker. Once a dominant force in the semiconductor industry, Intel has fallen behind in the AI boom to rivals like Nvidia and AMD.

Recent backing has boosted investor confidence: Intel secured a $10 billion government stake engineered by the White House, a $2 billion equity investment from SoftBank last month, and Nvidia’s multi-billion-dollar deal. Since mid-August, Intel’s stock has risen more than 40%.

A potential investment from Apple would add another vote of confidence. Apple was once a major Intel customer before shifting to its own custom-designed silicon in 2020. For Apple, a deal could help diversify its reliance on Taiwan’s TSMC, its primary chip manufacturer, particularly given geopolitical tensions with China.

The move would also align with Apple’s broader U.S. strategy, with the company committing $600 billion in domestic initiatives over the next four years. Strengthening ties with Intel could bolster Apple’s relationship with the Trump administration, which has supported efforts to cement U.S. leadership in advanced technology.

The White House said it has not been directly involved in discussions between Intel and Apple, though a spokesperson emphasized: “The taxpayer has an equity stake in Intel succeeding, and the Administration supports iconic American companies like Intel doing what’s best to cement American tech dominance.”

Intel has reportedly reached out to other potential partners as well, as it works to secure outside investment and long-term clients for its manufacturing facilities.

Micron tops forecasts with AI-fueled HBM demand, sees strong Q1 revenue

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Micron Technology projected first-quarter revenue of $12.5 billion ± $300 million, well above Wall Street’s estimate of $11.94 billion, as booming demand for its high-bandwidth memory (HBM) chips drives growth amid the AI race.

AI demand supercharges Micron

  • Q4 HBM revenue hit nearly $2 billion, putting Micron on pace for ~$8B annually, CEO Sanjay Mehrotra said.

  • HBM chips, built by stacking DRAM vertically, reduce power use while enabling massive data processing — making them indispensable for training and running advanced AI models.

  • Micron is a key HBM supplier to Nvidia, whose dominance in AI accelerators makes HBM supply one of the most competitive battlegrounds in semiconductors.

2026 outlook already sold out

  • Micron expects to lock in deals for all 2026 HBM capacity in the coming months.

  • HBM3E pricing agreements are nearly complete; HBM4 pricing talks are ongoing.

  • “The pricing on HBM4 is actually significantly higher than the pricing on HBM3E,” said Chief Business Officer Sumit Sadana, citing tight supply and strong ROI expectations.

  • TSMC will partner with Micron to manufacture the base logic die for its HBM4E chips.

Financial performance

  • Adjusted Q4 EPS: $3.03, topping forecasts.

  • Adjusted gross margin forecast (Q1): 51.5%, far above expectations of 45.9%.

  • Analysts said stronger-than-expected pricing drove the margin boost.

U.S. policy and subsidies

  • Micron has received $6.2B under the CHIPS and Science Act, passed under former President Joe Biden.

  • Current Commerce Secretary Howard Lutnick is exploring converting subsidies into equity stakes in chipmakers, but Sadana said Micron does not expect its grant terms to change.

  • Micron recently received a disbursement after completing a milestone at its Idaho fab, Mehrotra confirmed.

Big picture

Micron is riding the wave of AI-driven chip demand, securing long-term contracts at higher prices while boosting profitability. With HBM4 set to command premium pricing, Micron is positioning itself as a critical player alongside Nvidia, Samsung, and SK Hynix in the global AI supply chain.

Nvidia’s $100B OpenAI deal sparks funding, valuation, and competition questions

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Nvidia’s plan to invest up to $100 billion in OpenAI — while also supplying millions of its GPUs to the ChatGPT maker — is unprecedented in the tech sector and raises major uncertainties about finance, competition, and market impact.

Key open questions:

1. Where does the rest of the money come from?

  • Nvidia has pledged $10B per gigawatt for 10 GW of compute, but CEO Jensen Huang estimates $50B is needed per gigawatt (with $35B of that spent on Nvidia hardware).

  • That leaves a massive $40B funding gap per GW. OpenAI has not disclosed how it will raise the remainder.

2. How does this fit OpenAI’s shift to for-profit?

  • OpenAI is transitioning from a nonprofit into a public benefit corporation overseen by its nonprofit parent.

  • Nvidia’s investment may hinge on this structure, but it’s unclear if funding flows to the nonprofit entity or the restructured PBC.

  • Regulatory approval in Delaware and California is still pending.

3. What does it mean for OpenAI’s valuation?

  • Nvidia’s initial $10B tranche is pegged to OpenAI’s current $500B valuation.

  • But there’s no timeline for deploying the full 10 GW or committing the entire $100B. Future investments may depend on OpenAI’s valuation at the time, raising uncertainty about dilution and pricing.

4. How will competition be affected?

  • Nvidia’s chips remain the most coveted resource in AI. By tying up vast capacity with OpenAI, rivals like Anthropic, Google, or even Microsoft could face constraints in access.

  • Competitors like AMD may find it harder to gain traction if Nvidia prioritizes OpenAI, despite Nvidia’s public pledge to “make every customer a top priority.”

5. What does it mean for Oracle?

  • Oracle has signed hundreds of billions in cloud contracts with OpenAI, but analysts question whether OpenAI has the liquidity to pay.

  • Nvidia’s cash infusion could strengthen Oracle’s revenue outlook, reassuring investors and credit agencies like Moody’s, which flagged funding risks.

Big picture:

The deal deepens the interdependence of AI’s leading players — Nvidia for chips, OpenAI for models, Microsoft for software integration, and Oracle for cloud. But it also amplifies antitrust concerns, as U.S. regulators eye whether such alliances foreclose competition in the AI stack.