News Formal

Qualcomm Reportedly Approaches Intel About Potential Acquisition

  • 📰 sdut
  • ⏱ Reading Time:
  • 25 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 30%
  • Publisher: 95%

Technology News

Qualcomm,Intel,Acquisition

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Exclusive-Qualcomm has explored acquiring pieces of Intel chip design business, sources sayExclusive-Qualcomm has explored acquiring pieces of Intel chip design business, sources say
Source: Investingcom - 🏆 450. / 53 Read more »