By Ovunc Kutlu
ISTANBUL (AA) - American chipmaker Intel saw its shares soaring more than 9% on Friday amid reports of a possible takeover by Qualcomm.
Intel saw its stock price climbing to as high as $23.14 per shares during the trading hours for a 9.46% gain, after closing the previous session at $21.14 a share.
Shares of Intel closed Friday at $21.84 on the Nasdaq for a daily increase of 3.31%.
Qualcomm, American semiconductor manufacturer related to wireless technology, approached Intel in recent days about a takeover, according to multiple reports on Friday.
Intel saw its stock price plummeting 26% on Aug. 2, its largest single-day loss in over 50 years, as a major selloff in global markets hit US-based tech firms' stock prices.
The chipmaker announced the same day it is planning to cut its workforce by 15% as it implements a comprehensive plan to reduce spending.
The company posted a net loss of $1.6 billion in the second quarter, compared to a net income of $1.5 billion in the same period last year.
If the takeover is realized, it could go down as one of the biggest in history for the tech sector.
Intel's market value stood at nearly $93.2 billion as of Friday, while Qualcomm's market cap was at more than $188 billion.
Qualcomm saw its shares diving to as low as $164.30 per share amid the takeover reports for a daily loss of 5.5%, before slightly recovering to close the session at $168.92 a share with a 2.87% decline.