Qualcomm Incorporated (NASDAQ: QCOM) announced an agreement to acquire Modular Inc., a company that develops an AI-native software stack designed to run across multiple hardware architectures, including CPU, GPU, NPU, and custom ASIC platforms.

According to a press release, the acquisition is intended to strengthen Qualcomm Technologies' software capabilities for generative and agentic AI across data center and edge computing environments. Modular's platform is built to allow developers to deploy AI models across different hardware without rewriting code for each accelerator.

Cristiano Amon, President and CEO of Qualcomm Incorporated, said: "As agentic AI scales across data centers and edge environments, the industry is moving toward disaggregated, multi-vendor architectures that demand a more open and modern software foundation."

Chris Lattner, Co-founder and CEO of Modular, said: "Joining Qualcomm gives us the scale and platform reach to accelerate that mission."

Qualcomm stated the deal is expected to expand its data center opportunity and improve day-zero performance on new AI hardware. The company also said the acquisition would deepen relationships with model creators, developers, hyperscalers, and enterprises.

The transaction is expected to close in the second half of 2026, subject to customary closing conditions and applicable regulatory approvals. Financial terms of the deal were not disclosed in the announcement.