Qualcomm has recently contacted Intel about a takeover, the Wall Street Journal reported, citing people familiar with the matter. The deal, if completed, would be one of the largest technology mergers in years.
Intel shares rose 8 percent after the publication of unofficial information from the WSJ.
Qualcomm wants to take over Intel
Qualcomm and Intel compete in several markets, including desktop and laptop chips.
Representatives for Qualcomm and Intel did not immediately respond to a request for comment.
The deal, if completed, would be one of the largest tech mergers in years. Intel's market capitalization is about $96 billion.
Intel shares suffered their biggest one-day decline in more than 50 years in August after the company reported disappointing earnings.
Intel shares have fallen 53% since the start of 2024 as investors express doubts about its costly chip manufacturing and design plans.
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