Qualcomm is in talks to acquire AI chip startup Modular for about $4 billion, Reuters reported on June 22, citing Bloomberg.
If the deal goes through, Modular would be valued at about 2.5 times its $1.6 billion valuation at the time of its fundraising nine months earlier.
Bloomberg said the deal could be announced within weeks, but the talks could collapse or terms could change. Qualcomm and Modular declined to comment.
Qualcomm is expanding into high-growth areas such as data centre processors and chips for self-driving cars to reduce its reliance on the volatile smartphone market. The Information reported last week that it is also in talks to acquire AI chip startup Tenstorrent for $8 billion to $10 billion.
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