According to an analysis of Qualcomm's (QCOM.US) job postings by Citi, the company may be assessing Intel (INTC.US) to manufacture its data center application-specific integrated circuits (ASICs). The job listings seek candidates with expertise in Intel's embedded multi-die interconnect bridge packaging technology. Citi also noted that Apple (AAPL.US) and Broadcom (AVGO.US) have posted similar job openings.

Citi analysts suggest these companies may be leveraging Intel's foundry services to comply with the U.S. CHIPS and Science Act, which aims to boost domestic semiconductor production. Christopher Danely, a Citi analyst, stated in a report to investors on Wednesday, "We observe that if these three potential collaborations materialize, they would involve packaging services—a segment with lower pricing and margins compared to front-end foundry operations. Given Intel's significant lag behind TSMC (TSM.US) in this field, we do not expect these efforts to substantially impact Intel."

Danely further added that data center ASICs account for less than 1% of Intel's sales, meaning even if these deals proceed, they would not "become a significant revenue driver for Intel's foundry business." Citi maintains a "Neutral" rating on Qualcomm and a "Sell" rating on Intel.