Qualcomm in Talks to Acquire Tenstorrent and Modular for AI Chip Push
Qualcomm is reportedly in discussions to acquire AI chip startup Tenstorrent for $8-10 billion and AI software firm Modular for nearly $4 billion. The Tenstorrent deal, led by chip architect Jim Keller, would bring RISC-V-based AI accelerators and a top engineering team. The Modular acquisition provides software to run AI models across chips, challenging Nvidia’s CUDA dominance. Both deals are ongoing and not guaranteed, signaling Qualcomm’s aggressive expansion in AI semiconductors.
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QUALCOMM Reportedly Set to Acquire AI Startup Modular for $4 Billion
According to a Reuters report cited by Insider Monkey on June 28, 2026, QUALCOMM Incorporated (NASDAQ:QCOM) is reportedly set to acquire AI startup Modular in an all-stock deal valued at nearly $4 billion. The acquisition would provide Qualcomm with software enabling AI models to run across different chips without requiring separate code for each processor, directly positioning the company to compete with Nvidia's dominant CUDA platform. As part of the transaction, Qualcomm expects to issue up to 19.2 million shares of common stock to Modular's equity holders. Founded in 2022, Modular has raised $380 million, including a $250 million funding round in September 2025. The report also notes Qualcomm is discussing a potential $8 billion to $10 billion acquisition of AI chip startup Tenstorrent. This move underscores Qualcomm's strategic push into the AI semiconductor space to challenge Nvidia's ecosystem.
Yahoo FinanceQualcomm Set to Acquire AI Startup Modular in Nearly $4 Billion All-Stock Deal
According to a Reuters report cited by Yahoo Finance on June 28, 2026, Qualcomm (QCOM) is set to acquire AI startup Modular in an all-stock deal worth nearly $4 billion. The acquisition will provide Qualcomm with software that allows AI models to run across different chips without requiring developers to write separate code for each processor. This move positions Qualcomm to compete with Nvidia's CUDA software platform, which has been central to Nvidia's dominance in AI by fostering a large developer ecosystem. As part of the deal, Qualcomm expects to issue up to 19.2 million shares of its common stock. Additionally, the report mentions that Qualcomm is discussing a potential $8 billion to $10 billion acquisition of AI chip startup Tenstorrent. Founded in 2022, Modular has raised $380 million, including $250 million in a recent funding round.
Yahoo FinanceQualcomm in Talks to Acquire AI Chip Startup Tenstorrent for Up to $10 Billion
On June 15, 2026, Reuters reported that Qualcomm (NASDAQ: QCOM) is in discussions to acquire AI chip startup Tenstorrent in a deal valued between $8 billion and $10 billion. The talks are ongoing and could still fall through, with the possibility of performance-based milestone payments. Tenstorrent, founded in 2016 and led by former Apple and Tesla chip designer Jim Keller, develops accelerators for training AI models and running AI applications. Qualcomm shares fell about 1% in extended trading following the report. Neither company has commented, and Reuters could not independently verify the report. The article also notes Qualcomm's focus on wireless technologies and on-device AI.
Yahoo FinanceQualcomm Reportedly in Talks to Acquire AI Chip Developer Tenstorrent for $8-10 Billion
Qualcomm is reportedly in discussions to acquire Tenstorrent, a RISC-V-based AI accelerator and CPU developer led by renowned chip architect Jim Keller. The deal would value Tenstorrent at between $8 billion and $10 billion, representing a significant premium over its previous $3.2 billion valuation. Qualcomm already has its own AI accelerators (AI200/AI250) and recently acquired Ventana Micro for RISC-V CPU IP. The acquisition is seen as primarily a talent and future-architecture play, similar to Qualcomm's earlier purchase of Nuvia, as Tenstorrent has assembled a top-tier engineering team from AMD, Apple, Intel, and Tesla. The report notes that having multiple AI accelerator and CPU architectures could be suboptimal, but Qualcomm's strategy often involves acquiring elite teams rather than building from scratch. The deal is not guaranteed and discussions are ongoing.
Latest from Tom's HardwareQualcomm Reportedly in Talks to Acquire AI Chipmaker Tenstorrent for $8-10 Billion
Qualcomm is reportedly in discussions to acquire Tenstorrent, a RISC-V-based AI accelerator and CPU developer led by renowned chip architect Jim Keller. The potential deal would value Tenstorrent at between $8 billion and $10 billion, representing a significant premium over its last reported valuation of around $3.2 billion. The report from The Information indicates Qualcomm is interested in Tenstorrent's AI accelerators and data center-grade CPU IP, though the company already has its own AI accelerators (AI200/AI250) and recently acquired Ventana Micro for RISC-V CPUs. Analysts suggest the acquisition is primarily a talent grab for Tenstorrent's elite engineering team, which includes many former AMD, Apple, Intel, and Tesla engineers, rather than a pure technology acquisition. The deal is not guaranteed and discussions are ongoing.
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