qualcomm

Qualcomm completed its acquisition of AI software company Modular, enhancing its AI inference capabilities.

The eyewear push also expands Android XR, which Google said covers headsets and glasses through work with Samsung and Qualcomm, with audio glasses due this fall.

The agreements are understood to lock in supply volumes and prices for three to five years, instead of annual renewals.

The deal gives Qualcomm software that could help it build a more portable AI stack in a market shaped by Nvidia’s CUDA software platform.

Production of Qualcomm’s first Dragonfly C1000 chip is planned to start in the second half of 2028.

The potential project fits Qualcomm’s strategy to move beyond smartphones into data-center and other AI infrastructure.

Modular Inc. was founded in 2022 and raised $250 million in September 2025 at a $1.6 billion valuation.

Tenstorrent, a US- and Canada-based AI chip startup founded in 2016, is led by Jim Keller.

The rally outweighed investor concerns over the Iran conflict and uncertainty surrounding efforts to contain tensions following recent US strikes.

ByteDance has been increasing AI spending, with its infrastructure budget reportedly rising 25% to 200 billion yuan ($29.4 billion).