Qualcomm is moving deeper into AI infrastructure alongside NVIDIA, Broadcom and Marvell through a partnership with Amazon Web Services. AWS will work with Qualcomm on custom AI inference chips and 1.6T optical connectivity, and Amazon got warrants for up to 25M Qualcomm shares that vest with up to $60B of purchases. CFO Akash Palkhiwala has very high confidence in about $5B of FY2027 data center revenue, with orders in hand, and targets $15B+ data center revenue and $18+ non-GAAP EPS by FY2029. … Show more

Qualcomm is winning hyperscaler data-center chip business. It reportedly landed a $60 billion AI chip deal with Amazon, spanning multiple generations per Bloomberg, along with a $4 billion investment. Its CFO says it is finalizing a second chip manufacturing deal with another major hyperscaler. x.com  x.com 

Qualcomm stays a Hold, with the target cut to $186 on handset weakness and limited near-to-mid-term data-center visibility. Fiscal Q4 2026 revenue guidance of $9.7-10.5B fell short of buy-side chatter near $11B; Android faces elevated wafer inventories and Apple modem revenue is falling faster than expected. Data-center targets of $5B in FY27 and $15B+ in FY29 were reaffirmed and AI250 has four major US cloud customers, but high LPDDR5 prices hurt its competitiveness, and CPUs are years off. … Show more

Qualcomm could rerate from a handset chipmaker into an AI infrastructure story now that Amazon is co-developing multiple generations of inference silicon with it. As AI shifts toward stacks built around workloads, power and cost, Qualcomm need not beat Nvidia, only help optimize around the GPU. Amazon and Qualcomm are also working on 1.6T links using Qualcomm SerDes and optical DSPs, entering a space led by Broadcom and Marvell. Deployment volumes and further design wins would confirm it. x.com 

Qualcomm's multi-generation AWS partnership breaks its image as just a smartphone-chip maker and opens a second growth engine in AI data centers. It will develop custom silicon and optical connectivity for AWS AI inference and granted Amazon affiliates warrants for up to 25 million shares, following its data-center CPU work with Meta. Snapdragon still leads in edge AI, AI PCs and auto. At about 20x earnings, in line with its history, valuation offers downside protection. x.com 

Qualcomm is not simply undervalued: as a pure chip designer it lacks both manufacturing and distribution to end developers, leaving it squeezed by the largest companies on earth. It sends designs to TSMC and has no vertical integration. Amazon, which has pricing power through AWS, is now using Qualcomm to design its next chip, pushing it to undercut Broadcom. Nvidia controls the CUDA developer ecosystem, so its designs will likely far outpace Qualcomm's. It could be wrong short term. x.com 

Qualcomm's multi-generation AWS collaboration on custom AI data center silicon and inference shows its data center customers are becoming clear. Qualcomm confirmed the AWS deal is baked into its $15 billion FY29 data center revenue target, which should remove doubt about hitting that number; investor relations confirmed this despite @bubbleboi's objection. Qualcomm remains an execution beneficiary, with its data center value moving toward the upside case. x.com  x.com  x.com 

Qualcomm is still priced as a legacy modem stock while it builds a serious AI data center business. At 16x forward earnings it trades far below Broadcom, AMD and Nvidia. Per FundaAI research, it could ship about 1 million custom AI ASICs to a Chinese cloud provider by end-2026 at around $4,000 each, roughly $4 billion from one customer, with about 3 million server CPUs from 2027 and two US cloud providers in the pipeline; those figures remain estimates. x.com 

Qualcomm is becoming a fuller AI infrastructure player, and the market may re-rate it if its $5B fiscal 2027 data center revenue target is met. Most of that target comes from custom chips for one US and one Chinese hyperscaler, about $2B each at mid-30s gross margins. Its High Bandwidth Cache stacks memory on logic for about 6x HBM's bandwidth per watt, easing the inference memory wall. Alphawave's 800G DSPs already earn revenue, and a Meta custom CPU deal carries a minimum share guarantee. … Show more

Qualcomm is building the network layer around its HBC memory architecture as an integrated system, attacking AI data movement at several layers at once. HBC cuts movement between memory and compute, Alphawave adds SerDes, optical and die-to-die links, and per AIwire Cornelis Networks will provide networking for Qualcomm's Dragonfly HBC accelerators, with compute in the fabric to cut stalls. Qualcomm's data-center chief Tony Pialis says moving data across the rack is now as important as compute. … Show more