- Qualcomm Inc (NASDAQ:QCOM) countersued Softbank Group Corp (OTC: SFTBF) (OTC: SFTBY) Arm Ltd over claims the chipmaker violated its licensing agreements and trademarks tied to a 2021 acquisition.
- Qualcomm wanted a federal judge in Delaware to conclude it did not trample on Arm’s licensing contracts as part of Qualcomm’s $1.4 billion buyout of chip startup Nuvia Inc, Bloomberg reported.
- Qualcomm aimed to challenge Intel Corp (NASDAQ: INTC) and Advanced Micro Devices Inc (NASDAQ: AMD) in the PC and laptop markets with the help of Nuvia’s Arm-based designs.
- Also Read: Analysts Hail Qualcomm’s Auto Design Pipeline Due To Market Prospects
- Some Qualcomm insiders privately complained that Arm’s slacked innovation pace caused Qualcomm’s chips to lag behind Apple Inc’s (NASDAQ: AAPL) processors in performance.
- Qualcomm’s lawyers alleged Arm of strong-arming Qualcomm into renegotiating the financial terms of the parties’ longstanding license agreements, using this baseless lawsuit as leverage.
- In the past, most of Qualcomm’s chips relied on computing cores licensed directly from Arm, while Nuvia’s cores use Arm’s underlying architecture.
- Price Action: QCOM shares traded lower by 0.99% at $116.94 on the last check Thursday.
Crude Oil Down 1%; MicroVision Shares Plummet
U.S. stocks traded mixed midway through trading, with Dow Jones dropping over 100 points on Wednesday.
The Dow traded down 0.42% to 34,067.80 while the NASDAQ rose 0.31% to 13,614.84. The S&P 500, also rose, gaining, 0.26% to 4,380.17.
