CEO Cristiano Amon is widening Qualcomm’s push beyond smartphone chips into AI, autos, PCs, smart home and wearables, alongside new accelerator and CPU lines and a $3.9 billion Modular deal.
Qualcomm is expanding its push into AI data centers as part of a broader strategy to move beyond smartphone chips, with CEO Cristiano Amon highlighting growth across autos, PCs, smart home devices and wearables. The company said annual sales of AI components for data centers could exceed $15 billion by fiscal 2029, unveiled new AI accelerator and CPU lines, and this week agreed to buy AI software company Modular for $3.9 billion. Qualcomm has also said it expects $40 billion in annual revenue by 2029 from businesses excluding handsets, underscoring a wider effort to diversify away from its traditional core market and challenge Nvidia more directly in AI infrastructure.