Qualcomm may be in talks to acquire NXP Semiconductors, a move that would marry two major chipmakers, The Wall Street Journal reported on Thursday.
A deal valuing NXP at more than $30 billion could be struck in the next two to three months, unnamed sources told the Journal.
Shares of NXP surged nearly 17 percent after the report, while Qualcomm shares gained 6 percent. The semiconductor industry is already on pace for its best quarter since 2009, up about 18 percent so far.
Qualcomm rival Broadcom also saw shares rise nearly 2 percent on a day the markets traded broadly lower. Broadcom struck its own massive $37 billion deal with Avago last year.
Qualcomm and NXP declined to comment on the report to CNBC, citing corporate policy.
For the full story, see the article at WSJ.com.
— CNBC's Megan Hawkins and Gina Francolla contributed to this report.