Qualcomm Nears Deal for AI Chip Startup Modular

Qualcomm Inc. is currently engaged in advanced negotiations to acquire Modular Inc., an artificial intelligence chip startup. According to sources familiar with the matter and reports from Bloomberg, the transaction would value the startup at approximately $4 billion. This potential acquisition highlights Qualcomm's strategic movement within the AI hardware sector as it seeks to integrate Modular Inc.'s specialized technology into its broader ecosystem to enhance its competitive position in the evolving AI chip market.