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Qualcomm Reportedly Considering Acquisition of Intel’s PC Design Business

By  |  September 8, 2024

In an effort to expand its product portfolio, Qualcomm has explored the possibility of acquiring portions of Intel’s design business, according to Reuters. The mobile chipmaker has shown interest in acquiring different segments of Intel, a company currently facing financial struggles and seeking to offload some of its business units and assets, according to two unnamed sources familiar with the discussions.

Intel’s client PC design business appears to be of particular interest to Qualcomm executives, per Reuters, though the company is reportedly examining all of Intel’s design divisions. However, one source mentioned that Intel’s server business would likely be less appealing to Qualcomm. The talks are said to be preliminary, with no formal offer yet made by Qualcomm. According to an Intel spokesperson, the company has not been approached about a potential acquisition, and remains “deeply committed” to its PC business.

Qualcomm, which is primarily known for producing smartphone chips and counts Apple (AAPL.O) among its major customers, has been considering this move for months, as reported by Reuters. The company’s interest, however, remains tentative and could evolve, according to the sources, who chose to remain anonymous due to the sensitive nature of the information.

Read more: China’s Review of Semiconductor Transactions

This potential acquisition comes at a critical time for Intel. The semiconductor giant recently posted a poor second-quarter performance, which included a significant 15% reduction in its workforce and a halt in dividend payments. The company is grappling with how to sustain its manufacturing ambitions while also generating enough cash to remain competitive. Notably, Intel’s revenue from its PC client business fell by 8% last year, amounting to $29.3 billion, amid broader weakness in the PC market.

According to Reuters, Intel’s once-prominent “Intel Inside” marketing campaign made the company a household name, with its chips powering laptops and desktops worldwide. Executives are now placing their bets on the rising trend of artificial intelligence (AI)-powered PCs, hoping it will spur consumers to upgrade their devices and boost sales.

In response to the speculation, Qualcomm and Intel’s stock prices saw slight movement during U.S. pre-market trading on Friday, with Qualcomm’s shares slipping by up to 1.3% and Intel’s rising by 1%. However, Qualcomm has not made any official comments regarding the potential acquisition, leaving market observers to speculate on the future of the deal.

As Qualcomm weighs its options, Intel continues to navigate its ongoing challenges, with its PC design business potentially emerging as a key asset in the evolving semiconductor landscape.

Source: Reuters

New York Attorney General Urges Federal Cryptocurrency Regulation NY Attorney General Urges Federal Cryptocurrency Regulation

New York Attorney General Urges Federal Cryptocurrency Regulation

By  |  April 10, 2025

New York Attorney General Letitia James called on lawmakers Thursday to prioritize the creation of a federal framework for regulating cryptocurrencies, highlighting the urgent need for stronger protections for digital asset investors. In a letter addressed to key members of Congress, including Senate Majority Leader John Thune and House Speaker Mike Johnson, James emphasized the necessity for comprehensive regulations to safeguard investors from the growing risks in the cryptocurrency market.

According to Reuters, James proposed that cryptocurrency companies be required to register with a federal agency and that minimum standards be established for listing digital tokens. This regulatory overhaul, she argued, would help bring much-needed transparency and security to the rapidly evolving sector.

James’ request comes as Congress seems poised to pass a bill that would introduce new regulations for stablecoins—cryptocurrencies designed to maintain a stable value, usually pegged to the U.S. dollar. Stablecoins are widely used in the crypto market to facilitate transactions and as a means of transferring funds between different digital assets like Bitcoin and Ether. In her letter, James stressed that issuers of stablecoins should be mandated to have a U.S. presence and keep reserves, including U.S. Treasuries, in American banks to further protect consumers.

Related: DOJ Dismantles Crypto Enforcement Unit, Refocuses on Criminal Use of Digital Assets

The push for stronger regulation is gaining momentum in Washington, where the cryptocurrency industry has become a significant political force. As per Reuters, the industry spent over $119 million in the 2024 elections, supporting pro-crypto candidates. This political engagement has garnered the attention of lawmakers, with figures like former President Donald Trump advocating for broad changes to U.S. crypto policies. Bo Hines, a key advisor to Trump on digital assets, recently stated that the White House hopes to see a stablecoin bill passed before August.

In her letter, James underscored the personal stakes involved for millions of American investors, particularly in New York, where many have faced financial losses due to scams and fraud within the cryptocurrency space. “Countless New Yorkers invest in cryptocurrency and digital assets, and more must be done to protect them and their money,” James wrote. “Thousands of investors in New York and across the country have lost millions of dollars to cryptocurrency scams and fraud that could be prevented with stronger federal regulations,” she added, stressing the importance of swift action to curb these risks.

As discussions around cryptocurrency regulation continue, James’ call for federal oversight reflects growing concerns about the industry’s impact on investors and the broader financial system.

Source: Reuters