Qualcomm Targets $15 Billion in Annual AI Data-Center Revenue by 2029

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โดย Insider Monkey·Read original
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Qualcomm is targeting at least $5 billion in annual AI data-center revenue by fiscal 2027 and $15 billion by fiscal 2029, as it expands its Samsung partnership and pushes into AI infrastructure. The expanded Samsung collaboration will see Snapdragon platforms power more Galaxy flagship smartphones, smart watches, and future AI-powered smart glasses, reinforcing Qualcomm's premium Android dominance. On the AI infrastructure front, Qualcomm is building relationships with hyperscale cloud providers and has announced collaborations with Microsoft and Meta Platforms, aiming to become a major supplier of custom AI chips alongside Broadcom. While the smartphone business remains its largest revenue source, management is focused on reducing dependence on the cyclical handset market. Qualcomm trades at a price-to-earnings multiple of nearly 18x, a discount to Broadcom's nearly 63x, though execution risks remain in the competitive AI infrastructure landscape.

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Qualcomm targets $15B in AI data-center revenue by 2029, expanding partnerships with hyperscalers and Microsoft/Meta.

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