Qualcomm Forecasts $15B Data-Center Sales by 2029, KOSPI Up 5.5%
QCOM•Qualcomm forecasts $15 billion in data-center revenue by 2029, driving Japan’s Nikkei up 4% and South Korea’s KOSPI up 5.5%. This outlook helped lift the MSCI Asia-Pacific ex-Japan index 1.6% and propelled Nasdaq futures 1.8%, as investors embraced chip earnings to ease AI valuation concerns.
1. Qualcomm's Data-Center Forecast
Qualcomm anticipates generating $15 billion in data-center sales by 2029, highlighting its strategic push into AI infrastructure. The forecast underscores the company’s efforts to diversify beyond mobile chipsets and capture a larger share of the growing data-center market driven by cloud computing and generative AI workloads.
2. Market Reaction
Following Qualcomm’s forecast, tech-heavy Asian equities rallied sharply: Japan’s Nikkei climbed over 4%, South Korea’s KOSPI surged 5.5%, and the MSCI Asia-Pacific ex-Japan index rose 1.6%. US futures also gained ground, with Nasdaq futures up 1.8%, as investors viewed strong chip earnings and long-term data-center guidance as a catalyst to alleviate stretched AI valuations.
