Intel is reportedly in talks to buy semiconductor chipmaker Global Foundries for $30bn (£21.7bn), amid the continuing global shortage of the chips.
The Wall Street Journal reported that the US tech giant was circling the New York-based firm, which is owned by the Mubadala Investment Company.
But Global Foundries said that it was not in talks with Intel over a potential purchase.
Earlier this year Intel said that it would invest $20bn into its manufacturing plants in the US in order to enhanced its production capacity.
A deal could help the firm to boost its production while demand for chips remains sky high.
For most of this year, carmakers in particular have suffered from the supply crisis, with many being forced to curb production due to the dearth.
Such heightened demand has been good news for firms like Intel and Taiwan’s TSMC, which yesterday reported record second quarter revenues.
It also said that it expected the shortage to begin to ease this quarter, though warned that it would still last into 2022.