Qualcomm may be trying to buy Intel
Reading Time: < 1 minutesChipmaker Qualcomm is trying to buy rival Intel, according to multiple reports.
The Wall Street Journal broke the news late Friday that Qualcomm had approached Intel about a takeover. The New York Times subsequently corroborated the story, while adding that no official offer has been made.
Once the industry leader, Intel has struggled due to a lack of mobile strategy. It reported a $1.6 billion loss in the second quarter of this year and has been implementing a $10 billion cost reduction plan that would eliminate 15,000 jobs. It’s also moving to spin out its chip foundry business as an independent subsidiary.
Intel currently has a market capitalization of around $90 billion, while Qualcomm’s is around $190 billion. Both companies have been overshadowed recently by Nvidia as the AI boom drives demand for chips.
Reference: https://techcrunch.com/2024/09/21/qualcomm-may-be-trying-to-buy-intel/
Ref: techcrunch
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