Qualcomm Chief Executive Officer Cristiano Amon said Arm Holdings has withdrawn a threat to terminate Qualcomm's license agreement with the chip technology provider.

Arm in October threatened to terminate Qualcomm's license agreement amid a dispute over technology that powers Qualcomm's personal computer chips. Qualcomm said that threat has been withdrawn.

"Arm recently notified us that it was withdrawing its October 22, 2024 notice of breach, and indicated that it has no current plan to terminate the Qualcomm architecture license agreement," Amon told analysts on conference call on Wednesday, discussing the company's first-quarter results.

In December, Qualcomm won key aspects of a trial in the underlying dispute, with a jury finding that Qualcomm's personal computer chips are properly licensed under its license agreement with Arm.

The jury, however, could not reach a unanimous verdict on other questions presented at the trial, and Arm has filed a motion for a new trial.

Qualcomm shares (QCOM) were down 5.03% at 10:07 a.m. EST Thursday.