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The United States and China may be fierce competitors in many fields, with AI being the latest addition to these battlegrounds. Yet that hasn't deterred semiconductor company Qualcomm (QCOM) from forging a multi-year patent alliance with Chinese tech giant Huawei. Touted as a cross-licensing agreement where each company will have access to the other's patents, the agreement covers AI, computing, 5G, and networking technologies. Additionally, Qualcomm will also acquire some of Huawei's US patents.
The deal is subject to regulatory approvals. Unlike most other deals, this is an important caveat for this one, as Huawei remains on the U.S. Commerce Department's Entity List, and the applicable rules impose stringent licensing requirements on exports and transfers to Huawei and specified affiliates.
