Rivals and at least one big investor are circling the embattled semiconductor giant. The Biden administration is sure to keep an eye on any deal in such a strategically important sector.

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

However, the WSJ reports that a deal is "far from certain," according to sources familiar with the matter. Intel may or may not be receptive to the deal, which makes sense when you consider Qualcomm could tear Intel apart by selling assets or part of the company to other buyers.