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's AI data center upside is not priced in, and a deal with AWS worth up to $60B would quickly change its $15B AI chip plan. Qualcomm and Amazon agreed a multi-generation collaboration on custom silicon for AI inference and optical connectivity. Per @PatrickMoorhead, payments of up to $60B fall under a warrant framework granting Amazon up to 25 million Qualcomm shares, about 2.4% of the company. Amazon revenue starts in the December quarter. x.com  x.com  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 has little downside with Amazon having come in as an investor at around $160 a share. Investors give it almost no credit for AI, wearables, robotics and auto, and those businesses can do the heavy lifting to keep the stock steady next year. x.com 

Amazon's AWS growth remains strong despite slight earnings misses. AWS revenue rose 39% year over year in Q3. Increased 2027 capex could still weigh on the shares in the short term, even if demand continues to rise. x.com  x.com  x.com  x.com 

Amazon's record AI spending looks backed by AWS demand, despite pressure on near-term profit. AWS grew 39% to $46bn, and CEO Andy Jassy projects growth above 40% in both 2027 and 2028. Quarterly capex reached $77.3bn, almost $20bn above expectations; the Q4 profit guide missed and retail ads softened. AWS acceleration makes the drop worth buying. Overweight; $370 target. x.com  x.com 

A rising value of compute per watt should benefit AI cloud, chip, connectivity and power suppliers. Elon Musk says that value will rise over time. Nebius has Microsoft and Meta deals; Marvell benefits from custom silicon demand; Credo connects GPUs; Vistra has long-term nuclear supply deals with Amazon and Meta; Nokia's Nvidia partnership could help it capture data-center networking growth. x.com  x.com 

Anthropic's compute commitments point to future revenue for Alphabet, Amazon, Microsoft, Broadcom and Nvidia. Its S-1 reports 14-fold revenue growth, positive second-quarter 2026 EBIT and more than $600 billion committed to compute through 2045. The AI trade is alive and well, more than expected, provided demand keeps pace with those commitments. x.com 

Amazon's AWS acceleration is beginning to support the case for its heavy AI investment cycle. Q3 AWS revenue grew 39.3% to $46B and operating income rose 55% to $17.8B; company operating margin hit a record 13.9%. Andy Jassy says Prime Video generates tens of billions in annualized revenue and is independently profitable. The EPS miss, slower 11% ad growth and roughly $220B of 2026 capex remain worth watching, but the long-term view stays extremely bullish. x.com 

Fast peer-cloud growth makes a bullish Amazon earnings view hard to resist. Azure grew 48% and Google Cloud 103%; the forecast is for 42%+ AWS growth. AWS is expected to grow over 40% annually over the next two years, so selling Amazon here risks missing that growth. x.com  x.com