Alphabet discloses $548M Qualcomm stake
A regulatory filing shows Alphabet held 2,976,982 Qualcomm shares worth $547.9 million at the end of September, representing less than 0.5% of Qualcomm's outstanding shares. The Information reported that Google Ventures received the shares through Qualcomm's acquisition of Modular, but the filing did not disclose the purchase date, price or purpose, and related share counts remain unreconciled. After the holding was reported, Qualcomm shares rose more than 3% in premarket trading.
The stake gives Alphabet financial exposure to Qualcomm's expansion into AI data-center chips, while the existing Snapdragon, automotive and Google Cloud partnerships connect the two companies across mobile and AI computing.
This source provides an excerpt. Continue reading on the original site.