Qualcomm nears $4B deal to acquire AI startup Modular

Qualcomm ↘1.86% is in advanced talks to acquire AI startup Modular Inc. for about $4 billion, according to Bloomberg.fidelity
Modular, founded by LLVM and Swift creator Chris Lattner, builds a unified AI compute platform and its Mojo programming language for cross-hardware AI deployment.modular
If combined with a separate reported Tenstorrent bid of $8B–$10B, Qualcomm would commit over $14 billion to AI silicon in weeks, per Bloomberg.investing

Qualcomm Nears $4 Billion Deal to Acquire AI Chip Startup Modular

Qualcomm is in advanced talks to acquire AI startup Modular Inc. in a transaction valuing the company at approximately $4 billion, Bloomberg reported on June 21. An announcement could come in the coming weeks, though a final agreement has not yet been reached, according to people familiar with the matter who requested anonymity.fidelity

A Double-Down on AI Silicon

The Modular deal would mark Qualcomm’s second major AI acquisition push in rapid succession. Earlier in June, The Information reported that the San Diego-based chipmaker was in separate negotiations to acquire AI chip startup Tenstorrent in a deal valued between $8 billion and $10 billion. If both transactions close, Qualcomm would be committing upward of $14 billion to reshape its AI silicon portfolio within weeks.investing

Modular, founded in 2022 by Chris Lattner and Tim Davis, builds a unified AI compute platform designed to let developers run applications across CPUs, GPUs, and custom silicon without vendor lock-in. Lattner, the creator of LLVM, Swift, and MLIR during stints at Apple, Google, and Tesla, developed the Mojo programming language at Modular, which promises Python-level usability with C++-level performance. The company raised $250 million in a Series C round in late 2025, valuing it at $1.6 billion. Its customers have included Oracle, Amazon, Nvidia, and AMD.youtube

Qualcomm’s Data Center Ambitions

The potential acquisition reflects Qualcomm’s broader push beyond its core smartphone chip business and into the AI data center market. Bloomberg reported in April that Qualcomm had secured its first customer for AI data center chips, and Modular’s software infrastructure — which abstracts hardware complexity for AI inference workloads — could complement that effort.bloomberg

Neither Qualcomm nor Modular has publicly commented on the reported talks. Key details including deal structure, whether consideration would involve cash, stock, or a combination, and any potential regulatory review remain undisclosed.investing