Chip giant Qualcomm made a takeover approach to rival Intel in recent days, according to people familiar with the matter, in what would be one of the largest and most consequential deals in recent years.

With both Qualcomm and the currently struggling Intel looking to profit from the AI boom, it could be the largest tech M&A deal ever, though it is uncertain

SAN JOSE : Intel shares were up yesterday after The Wall Street Journal said that Qualcomm had recently approached the ailing US chipmaker with a takeover proposal, German news agency dpa reported. Intel’s stock prices rose by more than 3% in US trading. At times, the increase was even greater at over 10%.

Qualcomm made a takeover approach to chipmaker Intel in recent days, the Wall Street Journal reported on Friday, citing people familiar with the matter.

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

Qualcomm made a takeover approach to chipmaker Intel in recent days, the Wall Street Journal reported on Friday, citing people familiar with the matter. Intel’s shares reversed course to rise 8%, while Qualcomm fell 4% in afternoon trade.