Intel is in talks to acquire Altera, a maker of “programmable” processors, in a deal likely to exceed $10 billion, according to reports.

A transaction would be the chipmaker’s largest acquisition to date and among the biggest the technology industry has ever seen.

Intel’s chips dominate servers in data centres, but the possible acquisition of Altera could help the company provide a wider variety of custom chips designed to speed up specific applications.

The deal would be Silicon Valley’s largest since Facebook bought WhatsApp Messenger for $22 billion last year and is likely to rank among the tech industry’s top 10 richest deals.

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