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.

The Wall Street Journal reported Friday that San Diego-based wireless giant Qualcomm has approached Intel about a possible takeover of the ailing chip maker.

Chip giant Qualcomm has reportedly approached rival semiconductor firm Intel about the possibility of acquiring it but has not made any official offer yet. Multiple reports on Saturday claimed that Qu