Qualcomm Reportedly Approaches Intel About Potential Acquisition

Intel started the week with a critical board meeting and ended it with reports that Qualcomm approached the company about a potential acquisition.

Intel CEO Pat Gelsinger speaks while showing silicon wafers during an event called AI Everywhere in New York, Thursday, Dec. 14, 2023.For the company that put the silicon in Silicon Valley, the road to revival isn't getting any smoother. By forging ahead as one company, Intel has to two clear two gigantic hurdles at once: Spendthrough 2029 to build chip factories in four different states, while simultaneously gaining a foothold in the AI boom that's defining the future of technology.

Monday's announcement on the new governance structure for the foundry business served as an opening salvo meant to convince investor that serious changes are underway as the company prepares to launch its manufacturing process, called 18A, next year.

"Some customers are reluctant to give their names because of the competitive dynamics," Gelsinger told Fortt. "But we've seen a large uptick in the amount of customer pipeline activity we have underway."earlier this year it would use Intel Foundry to produce custom chips for its cloud services, an agreement that could be worth $15 billion to Intel. Microsoft CEOsaid in February that it would use Intel to produce a chip, but didn't provide details.

"At the end of the day, I think what policymakers want is for there to be a thriving American semiconductor industry in America," said Anthony Rapa, a partner at law firm Blank Rome who focuses on international trade.

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Qualcomm Reportedly Approaches Intel About Potential AcquisitionChipmaker 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.
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Qualcomm Reportedly Approached Intel About a Potential AcquisitionIntel is facing challenges with market share losses and a struggling chip manufacturing unit. Reports suggest that Qualcomm has approached Intel about a possible acquisition, though both companies have declined to comment.
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