On September 20th local time, according to sources familiar with the matter, Qualcomm (QCOM. US) has recently been in talks with Intel (INTC. US) to discuss a possible acquisition.
Affected by this news, Intel rose nearly 10% in late trading, reaching a high of $23.14 per share, the highest level since August 2nd. Qualcomm fell by over 5.5% at one point.
As of the close, Intel's stock price rose 3.31% to $21.84, with a market value of $93.4 billion, about half of Qualcomm's market value.
It is reported that this is the second recent media report that Qualcomm is interested in acquiring Intel.
In fact, there were reports last month that there has been communication between Qualcomm and Intel. Qualcomm is considering acquiring Intel's chip design business to enrich its product portfolio, as well as other Intel businesses such as servers, but this business is not significant to Qualcomm.
Subsequently, Bloomberg reported that representatives from Intel and Qualcomm declined to comment.
Analysis suggests that if Qualcomm's acquisition of Intel is ultimately successful, it will become one of the largest technology mergers and acquisitions in history.
Intel was once the world's largest chip manufacturer, but has been in a downward trend in recent years, with the decline accelerating in 2024. After releasing disappointing financial reports in August, its stock price experienced its largest single day decline in over 50 years. Since the beginning of the year, Intel's stock price has fallen by nearly 56%.
Earlier this week, Intel CEO Patrick Kissinger sent an internal letter to employees, announcing the next phase of the company's transformation plan, including independent chip foundry business, reducing 15000 employees by the end of the year, and selling real estate.
In addition, Intel recently announced that it will postpone plans to build two large chip manufacturing plants in Germany and Poland due to lower than expected demand.