Timesofsandiego
Report: San Diego’s Qualcomm Making Bid to Acquire Chip Pioneer Intel
A.Smith1 hr ago
The Wall Street Journal reported Friday that San Diego-based wireless giant Qualcomm has approached Intel about a possible takeover of the ailing chip maker.
Acquisition of the Silicon Valley company that pioneered memory chips and microprocessors would be valued at nearly $90 billion.
The Journal said Qualcomm had approached Intel "in recent days" but a deal is by no means certain.
Acquiring Intel would give Qualcomm production lines in the United States for its world-leading wireless chips like the Snapdragon.
Intel, once the world's most valuable semiconductor company, has been suffering from a series of sales and management crises.
Intel shares rose 7% after the report, while Qualcomm shares fell by 4%.
Read the full article:https://timesofsandiego.com/business/2024/09/20/report-san-diegos-qualcomm-making-bid-to-acquire-chip-pioneer-intel/
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