San Diego-based technology company recently made move to acquire computer processor and chip maker, according to the Wall Street Journal.

The chipmaker Qualcomm has approached its rival Intel in recent days about the possibility of acquiring the slumping Silicon Valley giant, two people familiar with the matter said Friday, requesting anonymity because the talks were confidential.

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 M&A deals.

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's shares closed up 3.3%, while Qualcomm fell 2.