• Intel shares added to recent gains Tuesday following a report last week that the corporate might be a takeover goal.

• Rival chipmaker Broadcom is the almost definitely buyer, some analysts said, with Elon Musk has mentioned as a possible wild card.

• Intel’s shares have risen recently, however the stock has lost greater than half its value over the past 12 months.

Takeover rumblings that lifted shares on Intel last week were still rumbling today.

Shares of Intel (INTC) were up greater than 2% Tuesday afternoon, outpacing broader markets’ gains and increasing Friday gains that were powered partially by deal-related rumors.

Citi analysts last week said they see Broadcom (AVGO) as “the almost definitely company” to be fascinated about buying Intel. Such a deal, the analysts said, might require Broadcom to sell Intel’s struggling foundry business—which the U.S. government won’t like, given a “stated interest in Intel developing a merchant foundry.”

Other named potential buyers have included Qualcomm (QCOM)—and JPMorgan analysts last week said they see a possible wild-card buyer in Elon Musk. The analysts “could understand the logic” if Musk were fascinated about Intel’s foundry arm, “considering the quantity of chips that his Tesla (TSLA), xAI, and SpaceX entities likely require.”

Intel is valued within the tens of billions of dollars, however the stock has lost greater than half its value over the past 12 months, even after its recent bounce. The most recent gains indicate that investors could also be buying into the possible that change, including M&A, is coming within the wake of CEO Pat Gelsinger’s retirement late last yr.

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