CNBC's Jon Fort joins 'Closing Bell' with some breaking news about Qualcomm and Intel.
Intel stock rallied on a WSJ report that Qualcomm had recently approached the chip giant about a possible takeover.
Intel shares have plummeted in recent months as it cut jobs, suspended its dividend and faced a high-profile board member resignation.
Intel stock surged on a Wall Street Journal report that Qualcomm could be interested in acquiring Intel.
Qualcomm made a takeover approach to chipmaker Intel in recent days, the Wall Street Journal reported on Friday, citing people familiar with the matter.
Intel shares pop on report Qualcomm has approached it about takeover
A deal for Intel would be massive and come at a time when the chipmaker is sputtering.
As a separate subsidiary, Intel's foundry business will have its own operating board and the ability to raise its own outside funding. A deal to manufacture AI chips for Amazon Web Services could be game-changing for Intel.
Intel is finally pushing the pause button on its multi-billion-dollar expansion plans.
Intel has struggled in large part due to its foundry business struggles. Spinning off the foundry business could help remove a big anchor on the stock.
The Anti-Defamation League has joined a lawsuit alleging a hostile workplace, discrimination and wrongful termination at Intel brought by a former Israeli employee who alleges the company supported two executives who openly posted antisemitic propaganda tied to the Israel-Hamas war. It is the first time the ADL has sued a major American company in its over 100-year history.
Intel (INTC) closed at $21.15 in the latest trading session, marking a +1.81% move from the prior day.