At the time, Intel CEO Pat Gelsinger said the company would stop all nonessential work and has since announced it will spin off its chipmaking business, a part of the company that it had long touted as a strength over rival AMD and the many fabless chipmakers that rely on entities like Taiwan’s TSMC to produce all of their actual silicon.

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

Intel was once the largest chipmaker and a US technology powerhouse. Around 2018, this leadership began to crumble as TSMC steadily moved ahead.