It appears Qualcomm is viewing Intel’s struggling business as a potential opportunity. The San Diego-based chipmaker has reportedly expressed interest in acquiring Intel “in recent days,” according to a new report The Wall Street Journal.
While the report warns that such a deal is “far from certain,” it would be a major shake-up in the U.S. chip industry. It would also, as The WSJ notes, likely raise antitrust questions. But Qualcomm’s reported interest in a takeover underscores how much Intel’s business has struggled in the past year.
Intel announced plans to cut costs last month as quarterly losses widened to $1.6 billion. Its foundry business has also struggled, with an operating loss of $2.8 billion in the latest quarter. CEO Pat Gelsinger announced plans earlier this week to spin off the foundry business into a separate unit from the rest of Intel.
Intel declined to comment on the report. Qualcomm did not immediately respond to a request for comment.
