Qualcomm rises after deal with Amazon to develop custom chips for AI data centers - QCOM News | RalliesQualcomm rises after deal with Amazon to develop custom chips for AI data centers
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QCOM• Qualcomm shares rise on Amazon collaboration
- Smartphone chipmaker Qualcomm's shares
QCOM.O rise 7.7% to $181.5 premarket.
- The company announces a collaboration with Amazon
AMZN.O to develop custom chips for large-scale AI data centers for the e-commerce giant.
QCOM and AMZN will collaborate on optical connectivity solutions to support growing bandwidth demands in AI data centers.QCOM plans to expand its use of AWS AI tools, including Amazon Bedrock, to accelerate chip designing.- 15 of 41 brokerages rate the stock "buy" or higher, 23 "hold" and three "sell"; median PT is $175.
- As of last close, QCOM stock was down 1.4% YTD.
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