Qualcomm nears deal for AI chip startup Modular

Economic Times reported that Qualcomm is close to a deal for Modular, an AI chip startup, as the mobile-chip supplier tries to expand in higher-growth markets. The story says Qualcomm has been working to reduce its reliance on the volatile handset market by moving into data-center processors and autonomous-vehicle chips. A Modular deal would fit the broader AI hardware consolidation pattern, where incumbents buy architecture and compiler talent to compete for inference and accelerator workloads.

Key details: Published June 23, 2026 at 08:27 IST, Economic Times reported Qualcomm is nearing a deal for Modular, The story links the talks to Qualcomm's push into data-center and autonomous-vehicle chips, Modular is positioned in the AI chip and software stack.

Why it matters: AI chip competition is pulling mobile, cloud, and automotive suppliers into the same market, making acquisitions a shortcut to scarce accelerator and compiler expertise.