Qualcomm AI chip market expansion

In early July 2026 Qualcomm announced that it had secured AI‑chip contracts worth at least $1 billion with three hyperscale cloud providers and a forthcoming deal to supply next‑generation CPUs to Meta Platforms beginning in the second half of 2028. Management projected data‑center revenue of $5 billion in fiscal 2027, growing to $15 billion by fiscal 2029 as the company expands its AI‑chip business.

Later that month Qualcomm outlined a broader financial plan, targeting total revenue of roughly $100 billion by fiscal 2029. While overall revenue fell 3 % in the first quarter, non‑handset segments rose 20 %, driven by a 38 % jump in automotive revenue and a push into data‑center solutions. The firm highlighted its Dragonfly platform for AI inference workloads and reiterated the $5 billion (FY27) and $15 billion (FY29) data‑center revenue outlook, alongside a $6 billion annualized automotive revenue stream and a $65 billion pipeline of automotive design wins. Qualcomm positioned its low‑power, high‑performance chip expertise as a competitive advantage against rivals such as Nvidia.