Qualcomm is a popular figure in the smartphone industry, thanks primarily to its Snapdragon series of chipsets that power both midrange and flagship phones. The company's reach ex

Intel's shares reversed course to rise 8%, while Qualcomm fell 4% in afternoon trade. Intel has been attempting to turn its business around by focusing on its chip foundry unit and artificial intelligence processors,

Qualcomm did not immediately respond to a Reuters request for comment. The approach by Qualcomm comes at a moment of weakness for Intel, which was once the most valuable chipmaker in the world, but whose shares have lost nearly 60 per cent of their value since the start of the year.