Qualcomm Buys Buzzy Chip Startup Modular for Nearly 4 Billion

Modular, one of the most promising chip software startups of the AI era, heads for a multibillion-dollar exit. Qualcomm will acquire the Silicon Valley chip startup Modular for nearly $4 billion. The companies announced the acquisition on Wednesday; Qualcomm said it expects to issue up to 19.2 million shares of common stock in the deal, which works out to just under $4 billion based on the company's last closing share price. The deal, which includes $300 million for Modular employees, comes nine months after the chip startup raised $250 million at a $1.6 billion valuation . It's expected to close in the second half of this year.