AP Photo/Jim Cole
Fiorina, a Republican, reportedly intends to officially announce her bid in a conference call on May 4.
Fiorina's candidacy is widely viewed as a bit of a long shot. Her tenure at HP earned very poor reviews and she lost her only other political campaign: the 2010 California Senate race.
Regardless, Fiorina is likely to make at least a little bit of a splash in 2016. She will probably be the only female Republican running for the White House, and she has generated headlines by being one of the most vocal critics of the Democratic front-runner, former Secretary of State Hillary Clinton.
In particular, Fiorina has gone after Clinton's record on women's rights.
"She tweets about women's rights in this country and takes money from governments that deny women the most basic human rights," Fiorina declared in February, according to Politico. "She tweets about equal pay for women but won't answer basic questions about her own offices' pay standards - and neither will our president. Hillary likes hashtags. But she doesn't know what leadership means."
Three major Republicans have already announced their 2016 bids: Sens. Marco Rubio (R-Florida), Ted Cruz (R-Texas), and Rand Paul (R-Kentucky).
Last updated 4:30 p.m.