10 AI News That Broke the Internet

5. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 74

QUALCOMM Incorporated (NASDAQ:QCOM) integrates AI into its wireless technologies, supporting applications in mobile devices, automotive systems, IoT, and edge networking. It also invests in early-stage AI innovations, advancing connectivity and intelligent computing across industries.

As reported by Reuters on December 18, Qualcomm estimated potential annual savings of $1.4 billion in royalties to Arm by acquiring Nuvia, a startup purchased for $1.4 billion in 2021, as revealed during a Delaware federal court trial. CEO Cristiano Amon testified that the acquisition was justified by these projected savings and Nuvia’s critical role in Qualcomm’s strategy to strengthen its chip designs for PCs and smartphones, aiming to compete with Apple and Intel. Qualcomm acquired Nuvia after attempts to partner with the startup failed, leveraging its expertise despite Nuvia’s lack of a finished product and initial focus on servers. The trial involves Arm’s claim that Qualcomm used Nuvia’s technology without proper licensing consent.