Qualcomm agreed on 24 June to acquire Modular, a Silicon Valley start-up whose platform runs AI models across different types of processors, in a deal Reuters valued at about $3.9bn.
Why Qualcomm Incorporated is buying Modular Inc.
Qualcomm said the deal strengthens its software foundation for generative and agentic AI in data centre and edge environments, supports its data centre strategy and enables day-zero performance on new Qualcomm AI hardware.
“This acquisition marks a pivotal moment not just for Qualcomm, but for the AI industry.”
Deal terms and financing
Financial terms were not disclosed by the companies. Techzine reported a Reuters calculation of $3.92bn, against a $4bn figure that had circulated before the announcement.
Regulatory approvals and timing
Closing was expected in the second half of 2026 subject to regulatory approvals. Modular announced on 29 July 2026 that Qualcomm had completed the deal; Mojo, MAX and Modular Cloud continue as brands and Chris Lattner became an executive vice-president at Qualcomm.
Market context
Modular raised m in September 2025, taking total funding to about m, Techzine reported. Its products include the Mojo programming language and the MAX inference engine.
