Qualcomm Projects $40B Non-handset Chip Revenue by 2029

WHO:

Nikkei Asia - Qualcomm CEO Cristiano Amon stated the company is designing data center chips specifically for Chinese customers.

Reuters - Qualcomm (QCOM.O) is the company making the projections.

WHAT:

Nikkei Asia - Qualcomm unveiled its data center chip lineup, entering the AI processor race.

Reuters - Qualcomm expects to generate $15 billion in sales from its data center business by 2029.

Reuters - Qualcomm raised its non-handset chip revenue forecast to $40 billion by 2029, up from a previous forecast of $22 billion.

Reuters - QCOM shares jumped over 13% after hours following the announcement.

WHEN:

Reuters - The projections for data center chip sales and non-handset chip revenue are set for the year 2029.

WHY:

Nikkei Asia - The design of chips for Chinese customers is in compliance with US export controls.

NO_NEW_FACTS

Reuters - Qualcomm is moving beyond traditional markets to capitalize on growth in data center chip sales.

HOW:

Reuters - Qualcomm's strategy involves expanding its product offerings beyond handsets to include data center chips.

(UPDATED June 25, 2026 10:03 UTC)

Qualcomm has unveiled its new data center chip lineup, marking the company's entry into the competitive AI processor race. CEO Cristiano Amon announced that these chips are being specifically designed for Chinese customers, ensuring compliance with US export controls. This strategic move highlights Qualcomm's commitment to expanding its market presence while adhering to regulatory requirements.

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(UPDATED June 24, 2026 23:25 UTC)

Qualcomm has announced ambitious projections, expecting to generate $15 billion in sales from its data center business and raising its non-handset chip revenue forecast to $40 billion by 2029. Following this news, Qualcomm's shares surged over 13% in after-hours trading. The company is shifting its focus beyond traditional markets, aiming to capitalize on the growing demand for data center chips.