Intel ( INTC ) shares rose in intraday trading Monday on a report it is in advanced talks with Apollo Global Management for the private equity firm to provide the chipmaker with more than $11 billion to help build a factory in Ireland.

The Wall Street Journal reported the exclusive discussions could lead to a deal in the coming weeks.

The paper noted that several other alternative investment firms, including KKR ( KKR ) and infrastructure investor Stonepeak, had also been in the running to fund the plant before Apollo gained the upper hand.

Intel, which has had a decades-long presence in Ireland, opened a 17-billion-euro ($18.4 billion) facility last September at its Leixlip campus, at which Chief Executive Officer (CEO ) Pat Gelsinger referred to the country as “The Silicon Isle.”

A spokesperson for Apollo declined to comment when contacted by Investopedia.

Intel was up 3% at $30.73 as of 12:47 p.m. ET Monday but its shares are down 39% this year.