Overview
- Qualcomm announced on Wednesday, June 24 that it will acquire AI software startup Modular in an all‑stock transaction that issues up to 19.2 million Qualcomm shares and is expected to close in the second half of 2026 pending regulatory approvals.
- At its investor day the company unveiled the Dragonfly C1000 data‑center CPU and said Meta will deploy the chip in production in 2028.
- Qualcomm published a product roadmap that includes the AI200 accelerator in 2026 and AI250 in 2027 and raised multi‑year targets to about $15 billion in data‑center revenue and roughly $40 billion in non‑handset revenue by fiscal 2029.
- Modular’s software lets developers run AI models across CPUs, GPUs, NPUs and custom chips without rewriting code, a capability Qualcomm says will help it attract developers and cloud customers away from Nvidia’s CUDA ecosystem.
- Execution risks include regulatory review, integrating Modular’s technology, and supply constraints such as chip manufacturing capacity and hyperscalers’ own silicon programs, any of which could affect timing and scale of Qualcomm’s data‑center push.