Qualcomm recently approached Intel regarding a potential takeover, though it's unclear if Intel engaged in discussions.
Intel shares rose by 8% on the news, while Qualcomm's fell by 3%.
A potential acquisition would be one of the largest technology mergers ever, with Intel's market cap over $90 billion. Intel, once the world's largest chipmaker, has been facing a decline, with shares down 53% in 2024 after disappointing earnings.
Qualcomm competes with Intel in PC and laptop chips, but unlike Intel, it outsources its chip manufacturing to companies like Taiwan Semiconductor and Samsung.
Qualcomm reported $35.8 billion in sales in fiscal 2023, compared to Intel's $54.2 billion
Intel shares rose by 8% on the news, while Qualcomm's fell by 3%.
A potential acquisition would be one of the largest technology mergers ever, with Intel's market cap over $90 billion. Intel, once the world's largest chipmaker, has been facing a decline, with shares down 53% in 2024 after disappointing earnings.
Qualcomm competes with Intel in PC and laptop chips, but unlike Intel, it outsources its chip manufacturing to companies like Taiwan Semiconductor and Samsung.
Qualcomm reported $35.8 billion in sales in fiscal 2023, compared to Intel's $54.2 billion
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