Qualcomm has reportedly approached Intel regarding a potential acquisition, which could set a new record in the semiconductor industry. While no deal has been confirmed, such a move would significantly alter the

Strategic missteps and the artificial intelligence boom have combined to reshape the fortunes of the U.S.’s most storied semiconductor company.

Qualcomm Inc. has approached Intel Corp. to discuss a potential acquisition of the struggling chipmaker, people with knowledge of the matter said, raising the prospect of one of the biggest-ever M&A deals.

Intel was once the largest chipmaker and a US technology powerhouse. Around 2018, this leadership began to crumble as TSMC steadily moved ahead.

The chipmaker Qualcomm has approached its rival Intel in recent days about the possibility of acquiring the slumping Silicon Valley giant, two people familiar with the matter said Friday, requesting anonymity because the talks were confidential.

Qualcomm has approached fellow US chipmaker Intel in recent days about a possible takeover, the Wall Street Journal reported Friday. Intel has suffered a string of setbacks in recent years, and a Qualcomm acquisition would be a big deal for the global chip market.