AdvertisementAdvertisementBusinessVisitors stand at the Qualcomm kiosk at Bharat Mandapam, one of the venues for AI Impact Summit, in New Delhi, India, February 18, 2026. REUTERS/Bhawika Chhabra24 Jun 2026 08:07PM (Updated: 24 Jun 2026 08:28PM) Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInAdd CNA as a trusted source to help Google better understand and surface our content in search results.Read a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST June 24 : Qualcomm said on Wednesday it would buy AI startup Modular in an all-stock deal valued at nearly $4 billion, as the chipmaker looks to diversify beyond its core smartphone business.Buying Modular pits Qualcomm against CUDA, the software platform that has helped underpin Nvidia's AI dominance by tying millions of developers to the $5 trillion company's chips.As part of the deal, Qualcomm expects to issue up to 19.2 million shares of its common stock to Modular's equity holders.The transaction is valued at about $3.92 billion, according to a Reuters calculation based on Qualcomm's last closing share price.Show MoreShow LessQualcomm has been seeking a larger foothold in the data-center market as demand for generative AI surges, and is already targeting the market with processors for data centers and other AI chips with shipments planned by the end of the year.Modular's software is primarily used to run, or "infer", AI models, a market that has emerged as the latest battleground for chipmakers as Nvidia looks to ward off competitors that are selling custom chips developed for in-house use.The deal is expected to close in the second half of this year.Source: ReutersNewsletterWeek in ReviewSubscribe to our Chief Editor’s Week in ReviewOur chief editor shares analysis and picks of the week's biggest news every Saturday.Sign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST