American chipmaker Qualcomm recently approached Intel, one of the world’s largest chipmakers, with a takeover offer, the Wall Street Journal reported on Friday, September 20, citing people familiar with the matter.
If the deal goes through, it would be one of the largest acquisitions in the global tech industry in recent years. Intel’s current market capitalization is around $96 billion, and Qualcomm’s – $183.31 billion.
Will Qualcomm take over Intel? An opportunity for chipmakers
However, Intel has been underperforming lately, and a Qualcomm acquisition could help it weather the storm. In August of this year, Intel suffered its biggest daily share price drop in more than 50 years after the company released disappointing results. By 2024, Intel shares had already lost 53%. Investors have expressed doubts about the company’s expensive plans to design and manufacture chips.
The market reacted positively to the surprise news, with Intel shares jumping 8 percent on Friday.
