Details of the plan are sketchy, but according to Bloomberg, Arm was given a chilly reception by Intel and told that it was not for sale.

The report did not mention any financial details or say whether the talks are still ongoing or have been abandoned.

Intel ceded its manufacturing edge to Taiwanese rival TSMC and failed to produce a widely desired chip for the generative AI boom capitalised on by Nvidia and AMD.

Reuters reported earlier this month that Qualcomm has approached Intel to explore a potential acquisition of the troubled chipmaker, which could be a transformational deal in the sector.

While it would appear that the vultures are circling Chipzilla, due to its poor share performance, and mothballing of projects, it is unlikely that the company is out for the count yet.