(Reuters) – Arm Holdings approached Intel about potentially acquiring the company’s products division but was told the business is not for sale, Bloomberg News reported on Thursday.
The British chip company did not express interest in Intel’s manufacturing operations, the report added, citing a person familiar with the matter.
The report did not mention financial details or whether the talks are still ongoing or have been abandoned.
Arm and Intel declined to comment on the report.
Once the dominant force in chipmaking, Intel ceded its manufacturing advantage to Taiwanese rival TSMC and failed to produce a widely desirable chip for the generative AI boom harnessed by Nvidia and AMD.
Qualcomm has also approached Intel to explore a potential acquisition of the troubled chipmaker, Reuters reported earlier this month, in what could be a transformational deal for the sector.
Intel has tried to turn its business around by focusing on AI processors and creating a chip contract manufacturing business, known as a foundry.
The company plans to pause the construction of factories in Poland and Germany and reduce its real estate holdings.
(Reporting by Gursimran Kaur in Bengaluru; Editing by Nivedita Bhattacharjee and Savio D’Souza)