On Sunday (Sept.22), Apollo Global Management (NYSE: APO) has reportedly offered to invest up to $5 billion in struggling chipmaker Intel Corporation (NASDAQ: INTC).

Apollo’s proposed equity-like investment would provide Intel with some much-needed financial relief as the company faces declining sales and a potential cash crunch. Intel’s top management is currently considering the offer, the report said.

The investment would help Intel as it undergoes a major restructuring, which includes plans to divest certain business units and lay off up to 15,000 employees. Intel is also exploring a potential split between its foundry and design businesses.

Earlier this year, Apollo agreed to acquire a 49% stake in a joint venture for Intel’s new production facility in Ireland, valued at $11 billion.

Additionally, Reuters recently reported that Qualcomm Incorporated (NASDAQ: QCOM) was exploring a potential takeover of Intel, though such a deal would likely face significant regulatory challenges.

Once the world's most valuable chipmaker, Intel’s shares have dropped 60% this year, as it struggles to keep pace with rivals like Taiwan Semiconductor Manufacturing Co. (NYSE: TSM) and NVIDIA Corporation (NASDAQ: NVDA).