A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/ File Photo
(Reuters) -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.
Qualcomm's shares fell over 5% in premarket trading, while Arm's U.S.-listed shares were down around 2%.
