Qualcomm's stock pop shows investors are 'waking up' to boom in AI devices
Qualcomm is experiencing a surge in stock value as investors recognize its role in the growing market for AI devices. The company has secured a deal with Stellantis to use its Snapdragon processors in vehicles, enhancing their autonomous capabilities. Additionally, Qualcomm is set to enter the data center chip market with new AI accelerators expected to launch later this year.
- ▪Qualcomm's automotive business revenue increased by 38% year-over-year, reaching $1.3 billion.
- ▪The company has partnered with Stellantis, which will integrate Qualcomm's chips for advanced vehicle computing.
- ▪Qualcomm's upcoming AI200 and AI250 chips are designed to compete with Nvidia's offerings in the data center market.
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Qualcomm is core to a plethora of gadgets doing AI at the so-called edge, instead of in the cloud. That includes Microsoft's Surface PCs and smartglasses from Google and Meta. Its Arm-based chips offer an energy-efficient alternative to those made by central processor leaders Intel and Advanced Micro Devices.On Thursday, Qualcomm announced a deal with automaker Stellantis, which said it will use the chipmaker's Snapdragon processors to "support advanced, unified compute power across the entire vehicle, including cockpit, connectivity and advanced driver assist systems."Stellantis owns a broad portfolio of brands, including Alfa Romeo, Chrysler, Dodge, Fiat, Jeep and Maserati."Customers will be able to enjoy a smooth, immersive, and safe auto-drive experience on city and highway roads,…
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