(Reuters) -Intel has approached Apple about securing an investment in the struggling chipmaker, Bloomberg News reported on Wednesday, citing people familiar with the matter.

The iPhone maker and Intel have also discussed how to work more closely together, the report said, adding that the talks are at an early stage and may not lead to an agreement.

Intel and Apple did not immediately respond to a Reuters request for comment.

Shares of Intel closed 6% higher after the news.

Intel CEO Lip-Bu Tan has been lining up partners as part of a turnaround at the ailing chipmaker, which has struggled to compete in the booming AI race, falling behind peers such as Nvidia and Advanced Micro Devices.

Just last week, Nvidia announced it would invest $5 billion in Intel for a roughly 4% stake in the c

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