The chipmaker Qualcomm has approached its rival Intel in recent days about the possibility of acquiring the slumping Silicon Valley giant, two people familiar with the matter said Friday, requesting anonymity because the talks were confidential.

Chipmaker Qualcomm is trying to buy rival Intel, according to multiple reports. The Wall Street Journal broke the news late Friday that Qualcomm had

The reported that Qualcomm has approached Intel for a potential takeover, a story later verified by . While the news initially sparked a 3% rally in Intel's share price, remain about the feasibility of such a deal.