Qualcomm in talks to buy Tenstorrent, The Information reports

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June 15, 2026 4:47 PM EDT

Qualcomm logo is displayed at the company’s booth at the 8th China International Import Expo (CIIE) in Shanghai, China, November 5, 2025. REUTERS/Maxim Shemetov

June 15 (Reuters) - Qualcomm ‌is in ​talks ​to acquire AI chip startup Tenstorrent for $8 billion to $10 billion, The ‌Information reported on Monday citing a person ⁠with knowledge of the deal.

Shares of Qualcomm fell ‌about 1% in extended ‌trading.

The talks were ongoing and the price could change, or the discussions could fall ​apart, according to the report. It was not clear if the price ⁠will include performance-based milestone payments, a structure used in the ​past to buy chip startups, the Information added.

Qualcomm and Tenstorrent did not immediately ​respond to Reuters' requests ‌for comment. Reuters could not independently verify the report.

One of the ⁠world's largest suppliers of smartphone chips, Qualcomm has increasingly sought to reduce its dependence on ⁠the cyclical handset market by expanding into high-growth segments ​such as data center processors and autonomous vehicle chips.

Founded in 2016, Tenstorrent is headed by Jim Keller, ‌a former Apple chip designer who also oversaw Tesla's efforts to ‌design a chip for autonomous driving.

The startup ⁠develops accelerators for ‌training AI models ​and running AI applications.

(Reporting by Jaspreet Singh in Bengaluru; Editing by Joyjeet ‌Das)


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