Meta, Microsoft Tap Qualcomm for Data Center Chips; QCOM Acquires Modular for $3.9B
Summary
Qualcomm announced significant customer wins, securing Meta Platforms for its Dragonfly C1000 data center CPUs and Microsoft Azure for its High Bandwidth Compute chip architecture. The company also acquired AI infrastructure software firm Modular for $3.9 billion in stock. These announcements are coupled with raised fiscal 2029 non-handset revenue targets of $40 billion, including $15 billion from data center sales. This suite of news strongly validates Qualcomm's diversification strategy beyond smartphones, establishing major hyperscaler partnerships and expanding its AI capabilities.
At the time of this announcement, QCOM was trading at $213.62 on NASDAQ in the Technology sector, with a market capitalization of approximately $225.2B. The 52-week trading range was $121.99 to $259.92. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.