tech
Qualcomm's stock pop shows investors are 'waking up' to boom in AI devices
Qualcomm is on a big run, powered by investor bullishness that the company will be at the center of a boom in AI devices.
TL;DR
- Qualcomm shares experienced a significant increase, reaching a record high.
- The company is positioning itself as a key player in AI-powered connected devices, despite falling behind in chips for large AI models.
- Qualcomm is reportedly collaborating with OpenAI on an AI chip for a new AI agent device.
- Its chips are integral to edge AI gadgets, including PCs and smartglasses.
- A new deal with Stellantis will see Qualcomm's Snapdragon processors used across vehicles for advanced computing, connectivity, and driver assist systems.
- Qualcomm is also developing custom AI accelerators for data centers, set to launch later this year.
- Revenue in Qualcomm's automotive business has grown significantly.