Amid Smartphone Slump, Qualcomm Projects Data Center Chips to Account for 30% of Future Revenue

Qualcomm has announced a major bet on the AI data center business, projecting that data center chips will eventually account for roughly 30% of its total revenue. Facing a year-over-year decline of about 20% in smartphone sales, Qualcomm is expanding into the compute market through partnerships with companies such as Amazon and Meta, forecasting data center revenue of approximately $650 million in Q1 2027, $5 billion by the end of 2027, and $15 billion by 2029.