It cost the company $2 billion after China's state regulator rejected the proposal. Nvidia Corporation's NVDA failed effort to take over Arm Holdings came with a $1.25 billion breakup fee after regulators in U.S., Europe and China blocked that deal. Acree also said that Intel has had major design challenges over the past few years that have cost it market share to AMD in both personal computers and servers, and it lacks a competitive edge in artificial intelligence strategy. "Ultimately, we're not convinced that Qualcomm will make a firm bid for Intel," he says. Acree reiterated a Hold rating on Intel, a Buy rating on Qualcomm and reiterated a $240 price target for Qualcomm. Price Action: Intel rose 1.65% to $22.20 in Monday's early-morning trading, while Qualcomm slipped 0.17% to $168.63. Now Read: Taiwan Semiconductor Denies UAE Investment Rumors Image: Shutterstock Market News and Data brought to you by Benzinga APIs