Qualcomm Approaches Intel for Potential Acquisition Amid Market Challenges

September 20, 2024 — In a bold move that could reshape the semiconductor landscape, Qualcomm Inc. (QCOM) has reportedly initiated discussions to acquire Intel Corp. (INTC), a company facing significant challenges in the market. Sources familiar with the matter confirmed that Qualcomm CEO Cristiano Amon is directly involved in the negotiations, signaling the seriousness of the approach.

As Intel grapples with a dramatic decline in its stock value—down nearly 60% this year—Qualcomm is exploring ways to expand its capabilities and bolster its position in the tech sector. Amon’s interest reportedly centers on Intel’s design business, with a specific focus on its PC design unit. However, these talks are still in their early stages, and Qualcomm has not yet made a formal offer.

Market reactions were mixed following the news. Intel’s shares experienced a modest uptick of 3.3%, while Qualcomm saw a decline of 2.9%. The fluctuating market reflects investor uncertainty as bo