Intel may be considering a takeover of Broadcom

The American chip giant could be planning to gate-crash tech’s biggest takeover deal.

The news:  The Wall Street Journal says Intel is mulling a bid for Singapore-based Broadcom, which has itself launched a record $117 billion takeover offer for Qualcomm.

Silicon FOMO: Intel, the world’s biggest chipmaker, is worried that a combined Broadcom-Qualcomm would make it harder for it to boost market share in chips for mobile phones and cars. By swallowing Broadcom, Intel could scupper the creation of a more powerful rival that would be the world’s third-largest chipmaker, after Intel itself and Samsung.

Bid bonanza: Meanwhile, as the chip market continues to consolidate, Qualcomm is also in the midst of organizing its own takeover offer for NXP, a Dutch company that’s a leader in chips for connected and self-driving vehicles.

Why it matters: Broadcom’s bid has raised national security concerns in the US. If Intel buys the company, those might be assuaged. But Intel’s move would stoke antitrust concerns.