Alphabet's latest 13F filing shows it held 2,976,982 Qualcomm shares worth about $547.9 million on September 30, 2026. Qualcomm shares rose about 3% in premarket trading after the disclosure, following a sharp drop the previous day.
The filing records only holdings on the last day of the quarter, so it does not say when or why the shares were acquired. One outlet links the position to Qualcomm's acquisition of AI software startup Modular, held through Alphabet's venture arm GV. That reading is not confirmed by the companies.
Qualcomm is expanding into AI data-center chips and expects that business to reach $15 billion in revenue by 2029. The same filing lists about 555 million SpaceX shares held by Alphabet.