SAN DIEGO - San Diego-based Qualcomm has made a move in recent days to acquire microprocessor and computer chip giant Intel, according to reporting Friday from the Wall Street Journal.
While a deal is no means certain, the Journal estimated a takeover of the tech company could run close to $90 billion.
Intel was once the world's most valuable chip company, but it has been tottering recently -- its shares have declined 57% this year alone. The company has been looking to offload assets for cash.
However, the speculation Friday drove up Intel's stock by 7% and Qualcomm's down 4%.
According to the Journal, a deal would greatly expand Qualcomm's reach by complementing its mobile phone chip business with Intel chips, which are widely used in personal computers and servers.
Qualcomm did not immediately respond to a City News Service request for comment.
