Qualcomm has explored buying pieces of Intel chip design business

The client business fills the fabs for Intel. If they sell this division off, it will kill the fabs unless if prospective buyers commit to running volume through the Intel Foundry fabs.

But... would it turn out to be another giant merger fiasco as the Boeing merger with McDonnell Douglas was? Qualcomm could end up rotting from the inside if Intel's management culture takes control, and Qualcomm still has quite a bit of value. AMD fared quite well in its purchases of ATI and Xilinx, yet Intel royally botched the purchase of Altera. At some point it will be clear that corporate culture is the problem, and there are no easy solutions for fixing that in what is effectively an aging monopoly.