Qualcomm Projects $15B AI Chip Sales, Boosts Non-Handset Goal to $40B
QCOM•Qualcomm projected $15 billion in AI chip sales at its Investor Day despite no existing products and doubled its 2029 non-handset revenue target to over $40 billion with Dragonfly CPUs and AI accelerators. The company also reported record $1.33 billion automotive revenue and announced a $65 billion long-term deal pipeline.
1. $15 Billion AI Chip Sales Promise
At its June 24 Investor Day, Qualcomm pledged $15 billion in AI chip sales over an unspecified timeframe, despite having no available AI chip products today. Management emphasized the figure as a key milestone to showcase its pivot into AI infrastructure, but acknowledged the roadmap remains in early development.
2. Doubled Non-Handset Revenue Target
Qualcomm raised its 2029 non-handset revenue goal to over $40 billion, driven by new Dragonfly CPUs, AI accelerators and modular software offerings. This acceleration underscores its strategy to transform from a mobile chipset supplier into a full-stack AI computing platform.
3. Record Automotive Revenue and $65 B Deal Pipeline
The company achieved a record $1.33 billion in automotive segment revenue last quarter and disclosed a $65 billion pipeline of future contracts. These figures provide long-term visibility and diversify Qualcomm’s revenue base beyond handsets.
