Arm Holdings to cancel Qualcomm chip design license, source says; shares fall 3%
Chip firm Arm is cancelling an architectural license agreement that allows Qualcomm to use its intellectual property to design chips, a person familiar with the matter said, amid an ongoing legal battle between the two companies. Qualcomm’s shares fell nearly 3% on Wednesday, while Arm was down around 6%. Arm has given Qualcomm a mandated…