Qualcomm has approached fellow US chipmaker Intel in recent days about a possible takeover, the Wall Street Journal reported Friday. Intel has suffered a string of setbacks in recent years, and a Qualcomm acquisition would be a big deal for the global chip market.

Qualcomm recently approached Intel to explore a potential acquisition of the troubled chipmaker, a source familiar with the situation said, in what could be a transformational deal in the sector but faces many hurdles.