Qualcomm confirms acquisition of AI startup Modular

On June 24, Qualcomm announced that it has reached an agreement to acquire the AI startup Modular. The deal is expected to be completed in the second half of 2026. As part of the transaction, Qualcomm is expected to issue up to 19.2 million shares of its common stock to Modular's shareholders. Based on Qualcomm's last closing stock price, the deal is valued at approximately $3.92 billion.