Qualcomm up after report co in talks to buy Tenstorrent

Qualcomm

Yesterday 10:26

** Shares of chip firm Qualcomm QCOM.O up 3.9% at $229.50 premarket 
** Co in talks to acquire AI chip startup Tenstorrent for $8 billion to $10 billion, the Information reported on Monday, citing a person with direct knowledge of the deal
** The talks are ongoing and the price could change, or the discussions could fall apart -  the Information report
** Acquisition would be part of QCOM's strategy to reduce its dependence on the handset market by expanding into high-growth segments like data centers and auto chips
** Qualcomm and Tenstorrent did not respond to Reuters' requests for comment
** As of last close, QCOM stock up 29.09% YTD 

 (Reporting by Tharuniyaa Lakshmi in Bengaluru)
 ((tharuniyaa@thomsonreuters.com))