Chipmaker Qualcomm is reportedly trying to buy rival Intel.
The Wall Street Journal He broke the news late on Friday that Qualcomm had approached Intel with a proposal for an acquisition. The New York Times after corroborated the storyadding that no official offer has been made.
Even if there were an offer, it’s unclear whether Intel would accept it or whether regulators would approve it. (Neither Qualcomm nor Intel immediately responded to britcommerce’s request for comment.)
Intel, once an industry leader, has struggled because of a lack of a mobile strategy. In the second quarter of this year, it reported a loss of $1.6 billion and has been implementing a $10 billion cost-cutting plan that would eliminate 15,000 jobs. It is also considering spinning off its chip foundry business into a standalone subsidiary.
Intel currently has a market cap of around $90 billion, while Qualcomm’s is around $190 billion. Both companies have recently been eclipsed by Nvidia as the rise of artificial intelligence drives demand for chips.