EL7.AI
StocksMediumUpdated×2•Originally published 25 June 2026•Updated 25 June 2026•
1 min read

Qualcomm Targets $15B in AI Data Center Revenue, Signs Server Deal with Meta

Key Facts

1Qualcomm nearly doubles its non-handset sales target, reviving faith in the AI trade.

In a move that strengthens its AI chip ambitions, Qualcomm revealed it targets $15 billion in data center AI revenue by fiscal 2029 and signed a deal to supply Meta with server CPUs, according to reports. this expansion into the server market puts it in direct competition with NVIDIA and AMD.

The announcement follows Qualcomm nearly doubling its non-handset sales target, marking a major strategic shift. Per market data, NVIDIA's data center revenue still exceeds $20 billion quarterly, but Qualcomm's new target represents its biggest incursion into this segment. The Meta deal, with one of the largest AI chip buyers, adds credibility to the company's roadmap.

For trading, QCOM closed at $226.11 on June 18, but the market may react positively to these news upon reopening. Investors await further details on the deal timeline and earnings impact, along with catalysts from upcoming earnings reports or industry conferences.

Latest Updates · 1

  1. Notable·

    Update: In an interview with Bloomberg Tech, CEO Cristiano Amon confirmed that data center chip revenue will reach 'billions' of dollars in the fiscal year starting October, giving investors a nearer-term timeline for returns from this segment. These remarks bolster credibility for the company's strategy following the Meta deal, suggesting growth may materialize before the 2029 target.