San Diego-based technology company recently made move to acquire computer processor and chip maker, according to the Wall Street Journal.
SAN DIEGO – San Diego-based Qualcomm has made a move in recent days to acquire microprocessor and computer chip giant Intel, according to reporting Friday from the Wall Street Journal.
While a deal is no means certain, the Journal estimated a takeover of the tech company could run close to $90 billion.
Intel was once the world’s most valuable chip company, but it has been tottering recently — its shares have declined 57% this year alone. The company has been looking to offload assets for cash.
However, the speculation Friday drove up Intel’s stock by 7% and Qualcomm’s down 4%.
According to the Journal, a deal would greatly expand Qualcomm’s reach by complementing its mobile phone chip business with Intel chips, which are widely used in personal computers and servers.
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