Arm Holdings’ (NASDAQ: ARM) lawsuit against Qualcomm (NASDAQ: QCOM) ended on Friday with a jury delivering a mixed verdict that found for Qualcomm on a crucial issue, saying Qualcomm had properly licensed its central processor chips.
Arm’s shares were down 1.9% in extended trading after the news, and Qualcomm’s shares were up 2.3%.
An eight-person jury in U.S. federal court deadlocked on the question of whether Nuvia, a startup Qualcomm purchased for $1.4 billion in 2021, breached the terms of its license with Arm.
However, the jury found that Qualcomm did not breach Nuvia’s license with Arm.
The jury also found that Qualcomm’s chips created using Nuvia technology, which has been central to Qualcomm’s push into the personal computer market, are properly licensed under its own agreement with Arm, clearing the way for Qualcomm to continue selling them.
ARM NASDAQ: ARM NASDAQ: QCOM Qualcomm
Mary Lee is a freelance writer and journalist based in Toronto, Canada. She holds an M.S. degree in business and economic journalism from Columbia University’s Graduate School of Journalism in New York and a certificate in digital marketing from the University of Toronto. Read Full Bio
