(Reuters) -Qualcomm made a takeover strategy to chipmaker Intel (NASDAQ:) in latest days, the Wall Road Journal reported on Friday, citing individuals accustomed to the matter.
Intel’s shares closed up 3.3%, whereas Qualcomm (NASDAQ:) was down 2.9%.
Intel has been making an attempt to show its enterprise round by specializing in its chip foundry unit and synthetic intelligence processors, however its shares have plummeted in latest months because it lower jobs, suspended its dividend and confronted a high-profile board member resignation.
A deal was removed from sure, the WSJ report mentioned, including that even when Intel is receptive to a suggestion from Qualcomm, a deal of that dimension would appeal to antitrust scrutiny.
To get the deal completed, Qualcomm might intend to promote belongings or components of Intel to different patrons, in line with the report.
Qualcomm and Intel didn’t instantly reply to Reuters requests for remark.
Earlier this month, Reuters reported that Qualcomm explored the opportunity of buying parts of Intel’s design enterprise to spice up the corporate’s product portfolio.
Qualcomm had examined buying totally different items of Intel, which is struggling to generate money and trying to shed enterprise models and dump different belongings, Reuters had reported.
Intel’s shares have fallen 56% this 12 months after rising 90% in 2023. Analysts and buyers had mentioned that Intel was more likely to be faraway from the index.
Intel’s foundry, or contract manufacturing enterprise, signed up Amazon (NASDAQ:)’s cloud companies unit as a buyer for making customized synthetic intelligence chips, offering some respite to strained buyers.
