Qualcomm acquires Modular to boost cloud AI

Qualcomm has reached a final deal to buy Modular, a software company focused on AI XPU software stacks. The deal is expected to close in the second half of 2026. Modular's platform allows developers to run AI models on different hardware without rewriting code. Qualcomm says this will help move AI from devices to the cloud, making systems faster and easier to scale.