Qualcomm (QCOM) Nears $4 Billion Acquisition of AI Startup Modular

Qualcomm (QCOM) is reportedly in advanced discussions to acquire AI infrastructure startup Modular for approximately $4 billion, according to Bloomberg sources. The potential deal, which could be announced in the coming weeks, remains subject to a final agreement. Neither Qualcomm nor Modular has publicly commented on the reports. Modular, founded in 2022 by Chris Lattner and Tim Davis, develops the Mojo language and MAX inference platform, enabling seamless AI model deployment across various hardware, including Nvidia and AMD chips. The acquisition would bolster Qualcomm's data center AI strategy as it seeks to expand its product offerings and challenge Nvidia's market dominance. Modular previously raised $250 million in September 2025 at a $1.6 billion valuation, bringing its total funding to $380 million. The reported $4 billion valuation underscores the intense competition among chipmakers for cutting-edge AI technology and talent.