Intel reportedly has been considering the acquisition since late past year and is working with advisers, the WSJ said.
Broadcom has been eager to speed up the process of bringing its headquarters back to the United States - known as redomiciliation - to address national security concerns about its campaign.
Intel does not want the Broadcom-Qualcomm deal to happen. Some may say that the resulting behemoth could be too big for the silicon industry.
The committee, chaired by the Treasury Department, requested more information from Broadcom, and without it, said it would consider deferring to Trump for further action.
An investigation of the deal by the Committee on Foreign Investment in the US, which reviews purchases of American firms by foreign investors, has confirmed national security threats related to the Qualcomm acquisition by Singapore-based Broadcom, Treasury said in the letter.More news: Stephen Hawking, renowned physicist, dies at 76
Broadcom spends less - about $3.3 billion a year ago - or 19 percent of revenue. Zacks Investment Research downgraded shares of Broadcom from a buy rating to a hold rating in a research report on Friday, February 16th.
Had Broadcom been a US company, it's possible that it could have completed a hostile takeover of Qualcomm, based in San Jose, Calif., without CFIUS getting involved.
In a written statement, Broadcom said it is sensitive to us national security concerns about the transaction that were raised by the Committee on Foreign Investment in the United States, or CFIUS, which is evaluating the implications of Broadcom's hostile takeover of Qualcomm.
Qualcomm, which had delayed its annual shareholder meeting during the CFIUS review, set the new date for March 23. Shareholders are voting on whether to replace six Qualcomm board members with Broadcom nominated candidates - which would give Broadcom a board majority.
USA officials have found recent Broadcom actions to speed up its move to the United States without providing the required five days' notice violate a March 5 CFIUS order, CNBC reported Monday.
The US government has raised concerns that Chinese companies, including the big network equipment and mobile phone maker, Huawei Technologies, will take advantage of any openings to take the lead in the next-generation mobile phone networks known as 5G.
CFIUS has the power to block acquisitions on national security grounds.