Alphabet holds about 3 million Qualcomm shares after Modular deal
Alphabet's stake, worth about $548 million as of September 30, stems from Qualcomm's July acquisition of the AI software company Modular.
Alphabet acquired about 3 million Qualcomm shares, a stake worth about $548 million as of September 30, Reuters reported. The holding resulted from Qualcomm's acquisition of the AI semiconductor software company Modular in July, a deal Qualcomm partly paid for with its own shares.
Google Ventures (GV), the venture arm of Alphabet's Google, was already an investor in Modular before the acquisition, which is how the parent company came to hold Qualcomm stock.
Modular brings Qualcomm software for running generative AI and AI agents in data centers and on edge devices, adding to the chipmaker's push beyond smartphone silicon.
Broader ties between the two companies
Google and Qualcomm have long worked together on chips for Android smartphones and recently co-developed the Googlebook premium laptop line. In 2024, the two companies agreed to develop chips and software for AI adoption in the automotive industry.
Qualcomm is targeting more than $15 billion in data center semiconductor revenue by 2029. In September 2026 it signed a contract with Amazon to develop and supply AI data center chips, with related purchases potentially worth up to $60 billion, and Microsoft and Meta have also ordered Qualcomm data center processors.
The shareholding disclosure follows a weaker session for Qualcomm: on November 5, 2026, the company reported quarterly results with smartphone chip sales below market expectations, and its stock fell more than 9%.
Quick answers
How many Qualcomm shares does Alphabet own?
About 3 million Qualcomm shares, worth about $548 million as of September 30, according to Reuters.
Why does Alphabet hold Qualcomm stock?
Qualcomm paid for part of its July acquisition of Modular with its own shares, and Google Ventures had been an existing Modular investor.