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Qualcomm Reportedly Approaches Intel About Potential Acquisition

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Chipmaker Qualcomm has reportedly reached out to its rival Intel about the possibility of acquiring the struggling tech giant, according to sources familiar with the matter. While no official offer has been made, the potential deal faces significant hurdles, including regulatory scrutiny and the complexities of Intel's foundry business.

Chipmaker Qualcomm has approached its rival Intel in recent days about the possibility of acquiring the slumping Silicon Valley giant, two people familiar with the matter said Friday, requesting anonymity because the talks were confidential.

Qualcomm and Intel, through spokespeople, both declined to comment. The Wall Street Journal earlier reported Qualcomm’s approach. Intel’s problems were underscored in early August, when it announced a $1.6 billion quarterly loss and plans to cut 15,000 jobs. The company, the largest planned recipient of federal financing under legislation called the CHIPS Act, on Monday announced other moves that include plans to pause the setting up of new plants in Germany and Poland.

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