Qualcomm is spiking on a report it could be acquired in a record-breaking deal

Shares of Qualcomm are spiking after Bloomberg News reported that rival Broadcom is exploring a takeover of the semiconductor maker.

Qualcomm is up 5.98% on Friday while Broadcom is bouncing around but up about 0.44%.

The deal, if it goes through, would be the largest ever takeover of a chip maker, according to Bloomberg.

Broadcom is worth about $US109 billion, while Qualcomm is worth about $US82 billion at the time of the reports.

This story is developing, check back here for more.

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