(Reuters) – Arm Holdings approached Intel (NASDAQ:) about potentially acquiring the company’s products division but was told the business was not for sale, Bloomberg News reported on Thursday.
The British chip company has not expressed interest in Intel’s manufacturing operations, the report added, citing a person familiar with the matter.
The report did not mention any financial details, nor did it mention whether the talks were still ongoing or had been abandoned.
Arm and Intel declined to comment on the report.
Once the dominant force in the chip industry, Intel has ceded its manufacturing superiority to Taiwanese rival TSMC and failed to produce a widely desired chip for the generative AI boom that has benefited Nvidia (NASDAQ:) and AMD (NASDAQ:).
Qualcomm (NASDAQ:) has also reached out to Intel to explore a potential takeover of the struggling chipmaker, Reuters reported earlier this month, in what could be a transformative deal in the sector.
Intel is trying to transform its business by focusing on artificial intelligence processors and creating a contract chip manufacturing company, known as a foundry.
The company plans to temporarily halt construction work at factories in Poland and Germany, and reduce its real estate holdings.