Arm Holdings to cancel Qualcomm chip design license: Report

Arm Holdings is cancelling an architectural license agreement that allows Qualcomm to use intellectual property to design chips, Bloomberg News reported on Tuesday, amid an ongoing legal battle between the two companies.

Arm has given Qualcomm a mandated 60-day notice of the cancellation of the licensing agreement, the report said, adding that the contract allows Qualcomm to create its own chips based on standards owned by Arm.