Qualcomm wants to buy Intel, which is currently worth $90 billion
23.09.24
Qualcomm has expressed interest in acquiring Intel, one of the world’s largest manufacturers of computer chips. This was reported by The Wall Street Journal, citing knowledgeable sources. Although the takeover deal for Intel, whose market value is now around $90 billion, is still far from complete, Qualcomm’s interest has caught the attention of experts, especially given the deep crisis that Intel has faced.
The situation arose against the backdrop of a 60% drop in Intel’s market value compared to 2020, when the company was valued at $290 billion. It is currently experiencing serious financial and organizational difficulties, and a sale could be a way out of its predicament. However, such a large-scale deal, if it happens, will surely attract the attention of antitrust regulators, which could make it difficult to implement. In this regard, Qualcomm is considering the possibility of reselling some assets or divisions of Intel to mitigate possible conflicts with regulators.
In turn, Qualcomm, whose market value is about $185 billion, seeks to expand its horizons. The acquisition of Intel will allow the company to enter new markets by adding processors for laptops, servers and embedded systems to its portfolio. Historically, the companies have collaborated in the field of microcircuit manufacturing, but these efforts have been discontinued for technical reasons.
Under the leadership of CEO Pat Gelsinger, Intel has spent the last three years trying to cope with the crisis, including starting production for third-party customers, which has not yet brought the expected results. Intel’s manufacturing division remains unprofitable, and the company’s recent reports showed a loss of $1.6 billion in the second quarter of 2024. Amid these difficulties, Intel has also taken cost-cutting measures, including plans to lay off thousands of employees and suspend dividend payments.
The resignation of Lip-Boo Tan, one of Intel’s key executives, at the end of August 2024 further exacerbated the situation, calling into question the company’s long-term strategy.
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