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Qualcomm Makes a Play for AI Chips
On Tuesday, the San Diego, California-based company’s shares surged to a record high following reports it had secured a deal to sell millions of its AI-focused application-specific integrated circuits (ASIC) to the Chinese tech conglomerate, which plans to use the chips to power its planned AI agent software.
The deal marks the clearest sign yet of Qualcomm’s effort to expand beyond smartphone chips, including its recent push into PCs, and into the highly lucrative data center AI chip market. This market has fueled massive rallies in industry peers such as Nvidia (NVDA), Advanced Micro Devices (AMD), and Broadcom (AVGO).
Qualcomm Stock Drops despite Upbeat Report
