The two companies may potentially develop new Internet of Things chips together.
Chipmakers are eager to stake a claim in the new market that promises to make dumb things smart by connecting to the Internet.
Intel doesn't want to repeat the billion-dollar mistakes it made in the mobile market.
Qualcomm expects to close the deal by the summer of 2015, giving it a boost in automotive and connected devices.
Dutch chipmaker NXP will provide the chips required to support the short-range wireless tech known near-field communications, according to the Financial Times.
TSMC may still have to compete with Samsung for processor orders from Apple, according to a report.
Micron Technology is a very big chipmaker that's closer to Apple than it ever has been.
Apple may be looking to acquire a unit of Renesas Electronics that makes LCD chips for mobile devices, according to a Nikkei report. The deal could be worth close to half a billion dollars.
The chipmaker reports first-quarter revenue is mostly flat, though it does see a slight rise in income.
CNET went to Intel's research hub in Hillsboro, Ore., and GlobalFoundries' factory in Malta, N.Y., to see the facilities developing tomorrow's chips. Intel, the world's largest chipmaker, has spent more than $25 billion building up six campuses in Oregon. GlobalFoundries, owned by the government of Abu Dhabi's investment arm, spent $10 billion creating its new Malta facility.