Arm Holdings Plc. (ARM) is canceling a license that permitted longtime partner Qualcomm Inc. (QCOM) to use Arm's intellectual property for chip design, intensifying a legal dispute over critical smartphone technology, Bloomberg reported.
According to the report, Arm has issued Qualcomm a mandatory 60-day notice regarding the cancellation of their architectural license agreement. This contract allowed Qualcomm to create its own chips based on standards owned by Arm.
The confrontation could disrupt the smartphone and personal computer markets while affecting the finances and operations of two major players in the semiconductor industry.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.