Qualcomm is pivoting to AI data centers to offset a 20% smartphone sales drop, targeting $650 million in revenue by Q1 2027 through partnerships with Amazon and Meta.
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With smartphone sales tanking by around 20 percent compared to 2025, Qualcomm is looking to data centers to help boost its bottom line. During its Q4 2026 earnings call, the company laid out its plans to make a splash in the AI data center business, through partnerships with companies like Amazon and Meta announced earlier this year. The company expects that portion of its business to grow quickly, forecasting around $650 million in data center revenue during the first quarter of 2027. But it anticipates that will reach $5 billion by the end of 2027 and $15 billion by 2029. Considering the company's total revenue for 2026 was $10.4 billion, … Read the full story at The Verge.
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