Qualcomm Pivots to AI Data Centers with $15B Revenue Target by 2029

1 reports archived1 independent sourcesupdated 11/5/2026, 06:42:15

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Amid declining smartphone sales, Qualcomm is pivoting its strategy toward AI data centers during its Q4 earnings call. Through partnerships with Amazon and Meta, the company forecasts this segment's revenue will surge from $650 million in early 2027 to $15 billion by 2029.

LATEST/Amid declining smartphone sales, Qualcomm is pivoting its strategy toward AI data centers during its Q4 earnings call. Through partnerships with Amazon and Meta, the company forecasts this segment's revenue will surge from $650 million in early 2027 to $15 billion by 2029.

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The Verge AIT2Nov 5, 06:42·68 pts
Qualcomm Pivots to AI Data Centers with $15B Revenue Target by 2029
- Qualcomm's smartphone sales dropped ~20% YoY, forcing a search for new growth engines.
- The AI data center business is projected to reach $15 billion in revenue by 2029.
- Multi-generation chip agreements with Amazon AWS and Meta underpin this strategic pivot.
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