Qualcomm Accelerates Multi-Billion Dollar ASIC Revenue to 2026, Confirms Tenstorrent Talks
Summary
Qualcomm announced a significant acceleration of its custom ASIC shipments, moving multi-billion dollars in data center revenue from fiscal 2027 into 2026. This positive development indicates stronger near-term growth and execution in a strategic market. The company also confirmed it is in talks to acquire AI chip startup Tenstorrent for an estimated $8-10 billion, a potential move that would enhance its AI and RISC-V hardware portfolio and reduce reliance on licensed CPUs. While the Tenstorrent acquisition talks have been previously reported this week, the ASIC revenue acceleration is new and material.
At the time of this announcement, QCOM was trading at $226.50 on NASDAQ in the Technology sector, with a market capitalization of approximately $238.3B. 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 8 out of 10. Source: Wiseek News.