Qualcomm Unveils Ambitious AI Growth Targets
Qualcomm’s shares increased on Thursday following the company’s announcement of new growth targets driven by artificial intelligence at its Investor Day. The chipmaker introduced the Dragonfly C1000 CPU, designed for AI workloads, with Meta Platforms set to adopt the technology in its data centers by 2028.
Qualcomm projects that its non-handset revenue will grow to $40 billion by fiscal 2029, doubling previous forecasts. The company also aims for adjusted earnings of over $18 per share during this period, leveraging its expertise in low-power computing and connectivity to capture opportunities within the expanding AI market.
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