Qualcomm Sets $40B Non-Handset Goal, Eyes $15B Data Center Market
NVDA•Qualcomm raised its non-handset revenue target to $40 billion by fiscal 2029, including $15 billion in data-center products such as chips, servers and custom processors. The company’s acquisition of AI software firm Modular provides a platform rivaling Nvidia’s CUDA, spurring a rebound in AI-related stocks.
1. Aggressive Non-Handset Revenue Ambitions
At its investor day in New York, Qualcomm raised its non-handset revenue goal to $40 billion by fiscal 2029, including $15 billion from data center products. The plan covers chips, servers, custom processors and software offerings and explicitly targets cloud providers and the Chinese market as key customers.
2. Strategic AI Software Acquisition
Qualcomm’s $1 billion purchase of AI software firm Modular delivers a development platform to rival Nvidia’s CUDA ecosystem, aiming to streamline AI model deployment on Qualcomm hardware. The announcement sparked a rally across semiconductor stocks as investors priced in heightened competition in data-center AI infrastructure.
