Intel is considering its biggest acquisition ever by Tom Huddleston, Jr. @FortuneMagazine March 27, 2015, 4:11 PM EDT E-mail Tweet Facebook Google Plus Linkedin Share icons Speculation that Intel could be nearing its largest acquisition ever sent shares of the reported takeover target, chipmaker Altera, soaring through the end of trading on Friday. San Jose-based Altera, which makes programmable computer chips used for cellular networks as well as wireless radios and other products, saw its stock jump nearly 30% Friday afternoon after The Wall Street Journal reported that the company is in talks to be bought by Intel. Though terms of the potential deal have not been reported, Altera sported a market value of roughly $10.4 billion prior to Friday’s rumors, and WSJ reported that the deal would likely be the largest-ever for Intel, which is the world’s biggest semiconductor company with a market capitalization above $150 billion. An acquisition of Altera ALTR would allow Intel to increase its presence in new markets as the company looks for more attractive revenue streams outside of its disappointing PC unit. Intel and other major chipmakers suffered in recent years when the PC industry those companies supply saw declining sales as a result of consumers’ switch from laptops and personal computers to tablets and other mobile devices. Intel recently lowered its revenue forecast for the first quarter of its 2015 fiscal year by $1 billion due to poor PC sales. That came after the company reported record revenue for 2014 when PC sales came in slightly better than expected. Intel’s stock INTC also got a boost on Friday, rising more than 6% following reports of the potential deal for Altera. The two companies have had an exclusive partnership for two years, with Intel technology being used in Altera’s computer chip designs.