Is QUALCOMM Incorporated (QCOM) Set to Acquire a Startup?

QUALCOMM Incorporated (NASDAQ:QCOM) is one of the 10 Best Semiconductor Stocks to Buy According to Billionaires.

Reuters reported on June 24 that QUALCOMM Incorporated (NASDAQ:QCOM) is set to acquire AI startup Modular in an all-stock deal worth nearly $4 billion. Through the acquisition, Qualcomm will gain software that enables AI models to run across different chips without requiring developers to write separate code for each processor.

The acquisition also puts Qualcomm in competition with CUDA, the software platform that has been central to Nvidia's dominance in AI by helping build a large developer ecosystem around its 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.

Founded in 2022, Modular has raised $380 million, including $250 million in a September funding round. Reuters also cited The Information reporting that Qualcomm is also discussing a potential $8 billion to $10 billion acquisition of artificial intelligence chip startup Tenstorrent.

QUALCOMM Incorporated (NASDAQ:QCOM) is a firm that develops and markets core technologies and products for mobile devices and other wireless products.

Fuente original: Yahoo Finance (https://finance.yahoo.com/technology/ai/articles/qualcomm-incorporated-qcom-set-acquire-184622398.html)