Qualcomm aims to double revenue to $100 billion by 2029 as it pivots to data‑center and automotive chips

Qualcomm said it expects total revenue to more than double to about $100 billion by fiscal 2029 as it expands beyond its traditional handset business. In the first quarter, overall revenue fell 3% to $10.6 billion, but non‑handset segments grew 20%, driven by a 38% jump in automotive revenue and a push into data‑center solutions. The company highlighted its Dragonfly platform, designed to address memory bottlenecks in AI inference workloads for data‑center infrastructure, and projected data‑center revenue of roughly $5 billion by fiscal 2027 and $15 billion by fiscal 2029. Qualcomm also disclosed $6 billion in annualized automotive revenue and a pipeline of $65 billion in design wins in the auto segment. Management noted competition from Nvidia in the data‑center market but emphasized Qualcomm’s expertise in low‑power, high‑performance chip design as an advantage for edge AI and robotics applications.