Qualcomm Inc. has approached Intel Corp. to discuss a potential acquisition of the struggling chipmaker, people with knowledge of the matter said, raising the prospect of one of the biggest-ever

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.

Strategic missteps and the artificial intelligence boom have combined to reshape the fortunes of the U.S.’s most storied semiconductor company.