TradingKey – On June 24, Eastern Time, Qualcomm ( QCOM) sent a powerful signal at its Investor Day: the company expects its data center chip sales to reach over $15 billion by 2029, and noted that revenue from this business is projected to hit $5 billion by fiscal year 2027. Meanwhile, Meta ( META) will adopt its Dragonfly C1000 data center CPU, and Microsoft ( MSFT) will also deploy its HBC chips, marking Qualcomm’s official entry into the AI data center market. Following the news, Qualcomm’s shares jumped over 12% after hours.
Why is Qualcomm entering the AI data center market?
For many years, Qualcomm’s core identity has been associated with mobile SoCs, basebands, and mobile communication patents. For the market, this business model…
