They'll barely allow Nvidia to acquire anybody at this point, no matter how small. See recent EU response to Run:ai. Intel would be considered 100x worse.
Well they obviously would..
Also EU has promised various significant subsidies to Intel. They obviously has fabs in Ireland and building one in Germany and perhaps even Poland..
If not, look up e.g. Microsoft 's purchase of Activision, both US companies.
They already do networking, photonics, GPUs, high speed interconnects, and CPUs. They are planning on selling their FPGAs (the Altera acquisition) to Lattice.
The only things left are their fab ops, thunderbolt/usbc, wifi, and ble.
Their fab ops would take over a decade of heavy investment to catch up to TSMC or Samsung and idk if even Nvidia is ambitious enough to take that on.
Wifi and BLE could be good additions if they wanted to branch out their mellanox portfolio to wireless. Thunderbolt/USB C also might be worthwhile.
But that IP is probably going to be cheaper to buy piecemeal so idk if it's worth it to buy the whole company outright.