Arm Holdings (ARM) and SoftBank Group are considering the acquisition of Oracle (ORCL)-backed semiconductor company Ampere Computing, multiple media outlets reported Thursday citing people familiar with the matter.

Bloomberg News reported in September that Ampere has been working with a financial adviser to help field takeover interest.

The sources warned that the talks could still fall apart or Ampere could end up being bought by another suitor.

Ampere uses technology from Arm to make central processing chips that are used by Oracle, Alphabet's (GOOGL, GOOG) Google and others, according to Reuters.

The valuation under discussion could not be learned, however Ampere was valued at $8 billion in a proposed minority investment by SoftBank in 2021, Bloomberg reported at the time.

Arm and Ampere did not immediately respond to MT Newswires' request for comment, while SoftBank could not be reached.