Qualcomm buys AI startup Modular for $3.9 billion in stock to accelerate data center push
CNBC—Qualcomm has agreed to acquire Modular, an AI software startup, in an all-stock deal valued at approximately $3.9 billion, marking one of the chip giant's largest acquisitions. The purchase aims to bolster Qualcomm's software stack and expand its footprint in AI infrastructure and data center markets, with the company targeting $15 billion in data center chip sales by 2029. News of the deal, combined with strong earnings forecasts, ignited a broader rally in AI chip stocks worth an estimated $400 billion in market capitalization.
- CNBC — Qualcomm acquires Modular for nearly $4B to bolster AI software stack and data center build-out
- Reuters — Qualcomm targets $15B in data center chip sales by 2029; shares soar
- Reuters — Micron + Qualcomm forecasts spark $400B AI chip stock rally
- Reuters — $3.9B price tag confirmed; all-stock deal focused on AI software expansion
- Hacker News — Qualcomm announces it will acquire AI-software firm Modular
- Wall Street Journal — All-stock deal structure confirmed at $3.9B — among the largest ever UK real estate bids
- Bloomberg — Qualcomm to buy Modular for $3.9 billion to accelerate its AI push