The Money TrailJune 24, 2026via SiliconAngle
Qualcomm shares jump 14% on Modular acquisition, guidance upgrade
Why it matters
Qualcomm is making a strategic pivot from handsets to AI infrastructure through an acquisition and new chip previews, signaling major confidence in its non-handset AI revenue potential and reshaping its competitive position against NVIDIA and custom silicon players.
Key signals
- Qualcomm stock up 14% in after-hours trading
- Acquisition of Modular Inc. (inference software startup)
- Two new AI chips previewed
- Fiscal 2029 guidance significantly raised
- Non-handset revenue expected to grow substantially
The hook
14%. That's how much Qualcomm's stock jumped after acquiring Modular and raising FY2029 guidance—a rare bet-the-company move on AI inference.
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 […]