Qualcomm to Acquire AI Software Firm Modular in $3.9 Billion Stock Deal — Update
By Katherine Hamilton
Qualcomm agreed to acquire the AI software company Modular for about $3.9 billion, in a bid to make artificial intelligence faster and cheaper for its customers.
The semiconductor company said Wednesday that, as consideration for the acquisition, Qualcomm expects to issue up to 19.2 million shares of its common stock to equity owners of Modular. That values the deal at around $3.92 billion, based on Qualcomm's closing price of $204.13 on Tuesday.
The issuance and sale of the shares will be made in a private placement, Qualcomm said.
Modular provides software that allows AI to run efficiently across hardware architectures, enabling developers to deploy AI at a lower total cost.
Qualcomm said it aims to help customers move AI into production from device to cloud more quickly.
The deal is expected to close in the second half of this year.
The announcement comes as Qualcomm is scheduled to host an investor day in New York on Wednesday.
Qualcomm shares were up 1% to $206.25 in premarket trading.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
June 24, 2026 08:58 ET (12:58 GMT)
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