05:27 AM EDT, 10/23/2024 (MT Newswires) -- ARM Holdings ( ARM ) has canceled its architectural license agreement with Qualcomm ( QCOM ) as the companies remain in a legal dispute, Bloomberg News reported Wednesday, citing a document.

According to the report, Arm has sent Qualcomm ( QCOM ) the required 60-day notice to cancel the license deal that allows the latter to use Arm's intellectual property in designing its own chips.

Bloomberg said the license cancellation escalates an ongoing legal dispute between the companies, dating back to 2022 when Arm sued Qualcomm ( QCOM ) for trademark infringement and breach of contract.

Arm Holdings ( ARM ) declined to comment on the matter, while Qualcomm ( QCOM ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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