Qualcomm Acquires Modular, Boosts AI Portfolio with New Software Capabilities

Qualcomm's stock price dropped by 4.21% to $162.88 after the company finalized its acquisition of Modular, a firm specializing in software frameworks for diverse hardware platforms.

The deal brings software infrastructure that supports various processor architectures and will enable Qualcomm to deliver comprehensive hardware-software solutions to customers.

Modular's development workforce and toolsets have been transferred to Qualcomm Technologies, with the company pledging to expand funding and engineering resources for Mojo, MAX, and Modular Cloud.