Qualcomm nearing $4 billion Modular deal, shares react on NASDAQ

By Anna Wagner, Analysts & Consensus desk. Reviewed prior to publication on 2026-06-23, 13:58.

Qualcomm (US7475251036) is reportedly in advanced talks to acquire AI software startup Modular in a deal valued at about $4 billion, according to Bloomberg. The potential transaction adds a fresh catalyst for the NASDAQ-listed chip group’s push into AI-driven revenue beyond smartphones.

What Bloomberg and others report

Bloomberg reported that Qualcomm is close to an agreement to buy Modular, an AI software startup that had been valued at around $1.6 billion in a funding round in September 2025, with a potential deal size now near $4 billion. Finanzen100 summarizes the Bloomberg report on the Modular talks. The move would underline Qualcomm’s strategy to expand its role in AI beyond handset chips.

Several market commentary pages note that Qualcomm has been positioning itself for a larger share of AI-related demand in data centers, PCs and edge devices, complementing its existing Snapdragon platform in smartphones. Robinhood’s QCOM profile highlights recent news on the Modular deal speculation. The reported talks come as investors increasingly compare Qualcomm’s AI roadmap with peers such as Nvidia and AMD in the broader semiconductor sector.

Analyst targets and earnings backdrop

On the analyst side, Wells Fargo recently maintained an Equal-Weight rating on Qualcomm and raised its price target significantly from $160 to $230, according to a technical and news overview on TrendSpider. The TrendSpider page on QUALCOMM Incorporated cites the Wells Fargo target lift to $230. That target brackets the current QCOM share price area around the low-$220s.

MarketBeat data show that Qualcomm last reported quarterly earnings on April 29, 2026, with Q2 2026 earnings per share of $2.65, beating the consensus estimate of $2.56 by $0.09. MarketBeat’s Qualcomm earnings page documents the April 29, 2026 EPS beat and next earnings date. The same source lists the next earnings date as July 29, 2026, giving analysts a clear timetable to update their AI and Modular assumptions once more guidance is available.

How Qualcomm earns its money

Qualcomm generates a large part of its revenue through its QCT chip business, which supplies Snapdragon processors and modems for smartphones and other devices. Its QTL licensing segment monetizes a broad portfolio of wireless patents used across the mobile industry, providing a high-margin royalty stream alongside the chip sales.

Where the shares trade today

The Qualcomm shares (US7475251036) trade on the NASDAQ under the ticker QCOM at $221.96 as of 2026-06-22, 16:00 Eastern Time, according to TradingKey, with a market capitalization around $238.39 billion.

This article is for informational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any securities. Historical performance is not a reliable indicator of future results.