Qualcomm to buy Modular for nearly $4B to own the software layer for AI chips

Qualcomm agreed on June 24 to acquire Modular, Chris Lattner's company behind Mojo and the MAX inference engine, for nearly $4B — 2.5× the $1.6B valuation of its $250M round nine months earlier. The bet: hardware-agnostic inference software is the moat as Qualcomm pushes into AI data centers.

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