Qualcomm shares jump 14% on Modular acquisition, guidance upgrade
's stock jumped 14% in after-hours trading today after it shared a series of updates about its artificial intelligence roadmap. The company announced plans to acquire an inference software startup called Modular Inc. and previewed two upcoming AI chips.
Key Takeaways
- SiliconANGLE UPDATED 18:45 EDT / JUNE 24 2026 AI Qualcomm shares jump 14% on Modular acquisition, guidance upgrade by Maria Deutscher Qualcomm Inc.
Additionally, Qualcomm significantly raised its fiscal 2029 guidance.
- Porting an AI model from one chip to another historically required developers to make extensive code modifications.
Modular has built a software platform that automates the task.
- At the company's investor event today, Amon debuted two new data center chips called the Dragonfly C1000 and Dragonfly AI300.
The C1000 is a central processing unit designed to power servers that run AI workloads.
- That value proposition has won over Meta Platforms Inc.
- Join theCUBE's Alumni Trust Network , where technology leaders connect, share intelligence and create opportunities.
Stats & Key Facts
- #'s stock jumped 14% in after-hours trading today after it shared a series of updates about its artificial intelligence roadmap.
- #Additionally, Qualcomm significantly raised its fiscal 2029 guidance.
- #] The post Qualcomm shares jump 14% on Modular acquisition, guidance upgrade appeared first on SiliconANGLE.
- #SiliconANGLE UPDATED 18:45 EDT / JUNE 24 2026 AI Qualcomm shares jump 14% on Modular acquisition, guidance upgrade by Maria Deutscher Qualcomm Inc.
SiliconANGLE UPDATED 18:45 EDT / JUNE 24 2026 AI Qualcomm shares jump 14% on Modular acquisition, guidance upgrade by Maria Deutscher Qualcomm Inc. 's stock jumped 14% in after-hours trading today after it shared a series of updates about its artificial intelligence roadmap. The company announced plans to acquire an inference software startup called Modular Inc.
and previewed two upcoming AI chips. Additionally, Qualcomm significantly raised its fiscal 2029 guidance. The chipmaker now expects its non-handset revenue segment, which includes its data center business, to reach $40 billion.
The company announced most of the updates during an investor event in New York. Qualcomm plans to finance the Modular acquisition with 19. 2 million shares, which are worth $3.
For more details please read the original article at SiliconANGLE AI.
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