Chip designer Qualcomm Inc. (QCOM) has signed a multi-generation agreement to supply data center CPUs to Meta Platforms, Inc. (META). The first-generation CPU, named Dragonfly C1000, is scheduled to enter production in the second half of 2028. Details regarding the financial terms of the agreement have not been disclosed.
Following the announcement, Qualcomm’s stock surged 12.27% to $221.63 in overnight trading on Nasdaq, after a decline of 3.29% during the regular session. Additionally, shares of Meta saw a slight increase of 0.11%, trading at $558.31. Qualcomm emphasized that the new CPU will enhance Meta’s server fleet by delivering improved performance per watt and reducing total ownership costs at scale.
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