U.S. technology giant Intel Corp. is planning to set up a $2 billion fund to invest in U.S. companies, the Wall Street Journal said, citing people familiar with the matter.
The chipmaker, which has a unit that invests in many technology companies, is in talks with venture capital firms to seek investment ideas, the report said.
The investment plan would not require raising additional capital, the business newspaper said, adding that the response to Intel's proposal was not immediately known.
Intel Chief Executive Paul Otellini is scheduled to give a speech Tuesday at the Brookings Institution, the newspaper said.
Brookings said in its invitation to the event that Otellin's speech will focus partly on "the need to create a culture of investment in the United States," according to the newspaper.
© 2023 Thomson/Reuters. All rights reserved.