Qualcomm Deploys $3.9B for AI; Chip Rally Ignites

Qualcomm ($QCOM) agreed to acquire software infrastructure firm Modular in a deal valued at approximately $3.92 billion, marking a major push into AI software infrastructure. The chipmaker also unveiled its new Qualcomm Dragonfly data center portfolio for the agentic AI era and announced a strategic multi-generation agreement with Meta Platforms ($META) on data center CPUs. The moves come as semiconductor stocks staged a rebound, with strong results from Micron Technology and upbeat forecasts from $QCOM reigniting optimism around the artificial intelligence trade.

Advanced Micro Devices ($AMD) and Rackspace Technology signed a definitive agreement for the deployment of an initial 30 MW footprint dedicated to AMD-based infrastructure. UBS maintained a Buy rating on Broadcom ($AVGO) with a price objective of $485, though the firm's analyst noted that supply constraints might result in near-term headwinds. Marvell Technology ($MRVL) stock is up 218% year to date, trading around $264, while $AVGO is up only 10% year to date, hovering near $378.

Meta Platforms ($META) has appointed Kunal Shah, an Indian fintech founder with two decades of experience building businesses around digital payments and consumer behavior in India, to lead WhatsApp. Chief Product Officer Chris Cox wrote in an internal memo that $META was looking for a leader with an intuitive grasp of the immense, global product potential for WhatsApp as the company looks to leverage the reach of the world's largest messaging platform and build a superapp to capture a bigger share of surging online payments. Separately, $META showed technical strength with a strong growth stock setup poised for a potential breakout near resistance after volatility contraction.

Alphabet ($GOOGL) is facing an intensifying talent drain after two more high-profile artificial intelligence researchers decided to join competitor Anthropic. The departures add to competitive pressure in the AI talent market as rivals seek to build out their capabilities.

Super Micro Computer ($SMCI) is up 5.8% following announcements of collaborations with StorMagic and Odine. The partnerships bundle its compact edge servers with virtualization software and deploy its NVIDIA-based GPU infrastructure for AI factories in Türkiye, while Supermicro itself expanded its Intel ($INTC)-powered AI edge portfolio for industrial and office environments. The moves highlight Supermicro's effort to extend its AI infrastructure franchise beyond hyperscale data centers into distributed edge computing and sovereign infrastructure deployments.

Palantir Technologies ($PLTR) drew attention from Wedbush, which called for massive 100% upside potential over the next 12 months as the company gains traction in enterprise AI deployments. $INTC has surged 570% in the past year following a new partnership with Apple, though questions remain about whether the upside has already been priced in.

Stellantis announced a partnership with Wayve and Uber Technologies ($UBER) to co-develop and deploy Level 4 robotaxis globally, combining Stellantis' L4-Ready vehicle platforms, Wayve's AI driving software and $UBER's ride-hailing network under a non-binding Memorandum of Understanding covering technology, production and deployment frameworks. Separately, $UBER added five retail partners to Uber Eats, signaling the platform is expanding beyond food delivery into broader retail categories.

Netflix ($NFLX) has declined but analysts suggest the investment thesis remains strong, with the stock trading cheaper than six of the Magnificent Seven stocks. Dell Technologies ($DELL), Hewlett Packard Enterprise, and Taiwan Semiconductor Manufacturing were highlighted in sector screens.

The stock market selloff earlier this week proved costly for Elon Musk, who lost his trillionaire status following a sharp drop in the share price of both SpaceX and Tesla. Tesla's 5.8% drop took Musk's net worth to $957 billion as of the most recent close, according to the Bloomberg Billionaires Index. The decline underscores the concentration risk in tech leadership wealth tied to equity valuations.