Qualcomm has expressed interest in acquiring Intel, causing Intel's stock price to rise.

• Recent reports indicate that Qualcomm made an acquisition proposal to Intel, according to sources close to the matter, as reported by the Wall Street Journal on Friday.

Recent reports from the Wall Street Journal indicate that a takeover has been approached about in recent days, according to sources familiar with the matter.

Intel shares rose 8% on the report.

If the deal were to occur, it would rank among the largest technology mergers in history, with Intel's market value of approximately $96 billion.

Intel's stock has fallen 53% in 2024, with investors expressing concerns about the company's costly plans to manufacture and design chips.

While Qualcomm and Intel compete in various markets, such as PC and laptop chips, Qualcomm differs from Intel in that it does not produce its own chips. Instead, it depends on companies like Taiwan Semiconductor Manufacturing Company and Samsung for production.

Intel CEO Patrick Gelsinger sent a memo to staff on Monday, reiterating the company's commitment to investing heavily in its foundry business, which could cost $100 billion over the next five years. Additionally, the memo stated that Intel was considering outside investment.

Intel has missed out on the AI boom that has captured the attention of the technology industry, as most advanced AI programs, such as ChatGPT, run on Nvidia graphics processors instead of Intel central processors, and Nvidia has over 80% of the fast-growing market, according to analysts.

Intel reported $54.2 billion in sales in its fiscal 2023, while Qualcomm generated $35.8 billion in sales during the same period.

Neither Qualcomm nor Intel responded to requests for comment.

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