According to anonymous sources, Qualcomm is exploring an acquisition of Intel. No offer has been made, but it is still in development.

Qualcomm recently approached Intel to explore a potential acquisition of the troubled chipmaker, a source familiar with the situation said, in what could be a transformational deal in the sector but faces many hurdles.

An analyst with Gabelli Funds says a deal for Qualcomm to buy struggling chip rival Intel may not make too much sense.