Qualcomm Shares Rise on Tenstorrent Deal Talks and AI Push

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Jun. 18, 2026 –

By Roman Perkowski, TechStock²

• Qualcomm was last indicated at $220.81, up $9.07 or about 4.3%. The market cap sits around $236.7 billion.
• Qualcomm shares traded after reports came out that the company is negotiating a deal to buy AI chip firm Tenstorrent in the range of $8 billion to $10 billion. Investors are also watching for details at Qualcomm’s June 24 Investor Day. Reuters

Qualcomm shares ticked up in early U.S. trading Tuesday after word of a potential AI-chip deal, but the stock’s strong smartphone business still hung over the market. Reuters said Qualcomm gained in premarket trade following a report from The Information that it’s in talks to buy Tenstorrent, an AI-chip startup. Still, the move wasn’t all in one direction — Qualcomm slipped about 1% after hours after the news hit, according to Reuters, as traders tried to figure out the impact and size of a possible deal.

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