Qualcomm and Marvell Technology shares experienced a significant slump in mid-June, dropping 8% and 10% respectively as tech giants pivoted toward custom silicon. In response to shifting market dynamics, Qualcomm entered strategic negotiations to acquire AI chip startups. These moves include talks to acquire Tenstorrent at a valuation between $8 billion and $10 billion, as well as late-stage discussions to purchase Modular Inc. for approximately $4 billion.
Qualcomm is in late-stage talks to acquire AI infrastructure startup Modular for approximately $4 billion to bolster its custom silicon ecosystem.
Read the full storyQualcomm is reportedly negotiating a multi-billion dollar deal for AI chip designer Tenstorrent to compete in the custom silicon market.
Qualcomm and Marvell shares fell 8% and 10% respectively following reports of ByteDance's custom chip development, signaling a shift toward in-house silicon.