Qualcomm recently proposed to take control of chip maker Intel. The Wall Street Journal reported This information was given on Friday citing people familiar with the matter.
Intel shares were up 8% in afternoon trading, while Qualcomm fell 4%.
Intel has been attempting to turn around its business by focusing on its chip foundry unit and artificial intelligence processors, but its shares have fallen sharply in recent months. job cutsThe company suspended its dividend and faced the resignation of a high-ranking board member.
Earlier this month, Reuters reported that Qualcomm was exploring the possibility of acquiring parts of Intel's design business to boost the company's product portfolio.
Qualcomm had considered acquiring various parts of Intel, which has been struggling to generate cash and is considering shedding business units and selling other assets.
Qualcomm and Intel did not immediately respond to Reuters request for comment.
