QCOM Eyes $4B Deal
Qualcomm is in advanced discussions to acquire AI startup Modular for about $4 billion
Qualcomm Inc (NASDAQ: QCOM ) is in advanced discussions to acquire Modular Inc in a transaction that could value the artificial intelligence company at about $4 billion, Reuters News reported Monday. 6 billion. Qualcomm and Modular did not immediately respond to Benzinga’s request for comment. What is Modular?
Founded in 2022 by Chris Lattner and Tim Davis, who met at Google, Modular was formed as they were “frustrated by AI’s fragmented infrastructure”, according to the company’s website. The company develops software infrastructure that helps companies build and deploy AI applications across different hardware and cloud platforms through a unified framework. Qualcomm wants more AI The reports on the acquisition come days after The Information reported that Qualcomm was in talks to acquire AI chip startup Tenstorrent for $8 billion to $10 billion, a deal that would expand the company’s AI chipmaking capacity. 72% in after-hours trading.
Benzinga edge rankings indicate QCOM has a Momentum score in the 89th percentile and Growth score in the 43rd percentile. com