QCOM

It signals a partial thaw in US-China tech tensions, but more importantly it validates Huawei's continued 5G and AI ambitions despite sanctions, implying Chinese demand for advanced chips and IP remains robust. This could pressure other licensing negotiations and set a precedent for cross-border IP deals.

Qualcomm

Huawei agreed to a multi-year patent licensing deal with Qualcomm covering AI, 5G, computing, and networking technologies.