Chipmaker Qualcomm added $30bn to its market value as its share price rose around 40% over two days after it settled a legal dispute with Apple over patents and royalties.

On 16 April alone, Qualcomm’s share price jumped 23% after the two companies announced they’d ended litigation and agreed a six-year patent-licensing agreement allowing Apple to use Qualcomm modem chips in its devices. Meanwhile, Intel which had previously been Apple’s sole iPhone chip supplier-announced it would exit the modem chip business after the settlement, meaning Qualcomm could now dominate the transition to 5G.

In addition, the deal with Apple could also pave the way for a similar settlement with Huawei Technologies as the rollout of 5G moves ever closer.