Qualcomm is betting big on data centers as smartphone sales sink
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TL;DR
- Qualcomm is focusing on the data center market due to a significant drop in smartphone sales.
- The company has formed partnerships with Amazon and Meta for its AI data center initiatives.
- Qualcomm projects data center revenue to reach $650 million in Q1 2027, $5 billion by the end of 2027, and $15 billion by 2029.
- Data centers are expected to eventually account for approximately 30% of Qualcomm's total business.
- This projection is less ambitious than AMD's expectation of over 80% of its revenue coming from data centers.