Nvidia and Qualcomm Compete in Edge Computing
Nvidia (NASDAQ: NVDA) reported an 85% year-over-year revenue growth, reaching $81.6 billion for Q1, with over 90% of its income stemming from data centers. While Nvidia dominates the AI hardware market, it also has an edge computing division that grew 29% last quarter, contributing to its overall growth.
Qualcomm (NASDAQ: QCOM) is positioning itself as a major player in the same edge computing space, reporting a 9% revenue growth in its Internet of Things division, which constitutes nearly 20% of its total revenue. The global edge computing market is projected to grow at an average annual rate of 27% through 2035, potentially exceeding $6 trillion annually. Qualcomm’s CEO, Cristiano Amon, emphasizes the company’s ambition to capture significant share in this market, indicating it could rival Nvidia’s success.
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