Qualcomm is nearing a deal to acquire Modular for nearly $4 billion in a stock-and-cash transaction that would bring the startup's entire team onboard. The reported purchase would accelerate Qualcomm's move into broader AI software platforms and data-center chips beyond its traditional mobile business.
Qualcomm announced the acquisition of Modular on June 24 in an all-stock deal valued at nearly $4 billion (up to 19.2 million shares).
Modular developed a chip software platform and a proprietary coding language that lets developers write AI software capable of running across different chips without rewriting code for each one.
Its goal was to create a unifying software layer to maximize performance from GPUs and CPUs while challenging systems such as Nvidia's CUDA and AMD's ROCm.
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