Apollo Global Management Inc. has offered to make a multibillion-dollar investment in Intel Corp., people familiar with the matter said, providing the chipmaker with a vote of confidence in its turnaround strategy and an alternative to a potential takeover by larger rival Qualcomm Inc.

Key Takeaways Intel shares surged Monday following a pair of reports that could bring an infusion of cash to the troubled chipmaker.Apollo Global Management reportedly offered to invest as much as $5 billion in the chipmaker,