Qualcomm announced on June 24, 2026, it will acquire AI startup Modular in an all-stock deal valued at approximately $4 billion [1, 2, 3, 4]. The deal involves Qualcomm issuing up to 19.2 million shares of its common stock to Modular's equity holders [1, 3, 4].
Qualcomm said the acquisition aims to strengthen its AI software capabilities for data centers and edge devices [1, 2, 4, 5]. Modular offers an open AI-native software platform that allows AI models to run efficiently across CPUs, GPUs, NPUs, and custom ASICs without needing code rewrites [3, 4, 5]. This will help Qualcomm advance a developer-friendly, horizontal AI platform that operates across diverse computing environments, according to Qualcomm CEO Cristiano Amon. He said, "We believe the future belongs to developer-friendly, horizontal platforms that can run across diverse compute environments and give customers real choice in how and where they deploy AI" [2].
Chris Lattner, Modular’s co-founder and CEO, said the collaboration with Qualcomm "would help make AI development more accessible and improve performance for developers" [4].
Modular was founded in 2022 by Lattner and Tim Davis, and the startup has about 150 employees [3]. Qualcomm expects these employees to join its team after the acquisition [3]. Nine months prior to the acquisition announcement, Modular raised $250 million in funding [3].
The companies expect the deal to close in the second half of 2026, subject to regulatory approvals [1, 2, 3, 4, 5]. Qualcomm views the acquisition as a milestone for the AI industry, emphasizing the need for open, developer-friendly platforms that operate across multiple compute environments [4]. Qualcomm CEO Cristiano Amon underscored the shift toward "a more open and modern software base" as AI with autonomous capabilities scales in data centers and edge environments, stating in Chinese, "隨著具有自主能力的AI在資料中心和邊緣環境中大規模部署，整個產業正朝著解耦的多供應商架構邁進，這需要一個更加開放和現代的軟體基礎" [5].
