Qualcomm is in talks to acquire artificial intelligence chip startup Modular Inc., people familiar with the matter said. Entering advanced negotiations, the potential deal would value Modular at approximately $4 billion. The deal could be announced as early as the next few weeks.
People familiar with the matter added that the two sides have not yet reached a final agreement, and the negotiations may still end without results and the details of the transaction may also change.
Chip companies are seeking to master the technology and talents in the cutting-edge field of artificial intelligence. Qualcomm is working to expand its product lines and build alliances to challenge industry leader Nvidia.
According to information provided by the Modular website, Chris Lattner and Tim Davis founded Modular in Silicon Valley in 2022. The two met at Google and were dissatisfied with the "fragmentation of artificial intelligence infrastructure."
The company raised US$250 million at a valuation of US$1.6 billion in September 2025, bringing its cumulative financing to US$380 million.