Qualcomm nearly doubled its fiscal 2029 non-mobile revenue target to $40 billion during its Investor Day. The company projects $15 billion in revenue from the AI data center market by 2029.
Meta signed a multi-generation agreement to use Qualcomm Dragonfly C1000 CPUs in its data centers. Chip deployment for this partnership will begin in the second half of 2028.
Qualcomm acquired AI software firm Modular for approximately $4 billion in stock. The deal aims to bolster Qualcomm's software ecosystem against competitors like Nvidia.
Qualcomm shares surged more than 12% in after-hours and pre-market trading. This strategic shift seeks to diversify revenue as global smartphone growth slows.