Qualcomm built its empire selling chips to smartphone makers. Now it wants to sell chips to the companies building AI supercomputers.
At its Investor Day on June 24, 2026, the company laid out a target to grow data center revenue from roughly $0.3 billion in fiscal year 2026 to more than $15 billion by fiscal year 2029. That is a 50x increase in three years.
What Qualcomm actually announced
Qualcomm has a multi-generation agreement with Meta for data center CPUs, which gives the target some structural grounding beyond aspirational math.
The company also disclosed progress on custom silicon deals with other hyperscalers, including an accelerator developed under a collaboration called the HUMAIN project. Qualcomm is pitching a product line called the Dragonfly portfolio, built for what it describes as agentic AI data centers. The roadmap includes the AI200 inference accelerator in 2026 and the AI250 following in 2027, with power efficiency as the primary selling point over raw performance.
