Worth knowing
Qualcomm is betting big on data centers as smartphone sales sink
Qualcomm's aggressive expansion into AI data centers signals increasing competition in the AI infrastructure hardware market alongside established players.
Reported by The Verge ·
What happened
Facing a roughly 20 percent decline in smartphone sales, Qualcomm announced during its earnings call that it is pivoting heavily toward the AI data center market through partnerships with companies like Amazon and Meta. The chipmaker projects its data center revenue will grow from $650 million in the first quarter of 2027 to $5 billion by the end of 2027 and $15 billion by 2029.
Who it’s about
- Qualcomm
- Amazon
- Meta