Advanced Micro Devices is in advanced talks to buy rival chip maker Xilinx in a deal that could be valued at more than $30B, WSJ reports.

Earlier talks are said to have stalled before recently restarting, and the latest deal under discussion could come together as soon as next week, according to the report.

A deal for Xilinx would raise AMD to a more even competitive footing with Intel and give it a bigger position in growing telecom and defense markets.

AMD's market cap tops $100B after its shares surged 89% this year as the pandemic increases demand for PCs, gaming consoles and other devices that use the company's chips.