Intel shares rose 3.3% on Friday, following reports of a potential acquisition approach from Qualcomm, which has struggled in the semiconductor sector. This development came after Intel’s stock surged earlier in the week due to a partnership with Amazon and a $3 billion contract with the Defense Department. Qualcomm’s stock fell 2.9% after the news broke.
According to *The Wall Street Journal*, Qualcomm expressed interest in acquiring Intel, which would mark one of the largest tech deals to date if successful. Despite Intel’s ongoing restructuring efforts, which include a 15% workforce reduction, the possibility of a bidding war could entice investors.
The discussions around a Qualcomm-Intel merger reflect broader market movements as both companies seek to strengthen their positions amid fierce competition and challenges in the semiconductor industry.
