Qualcomm Inks $60B Amazon Deal to Offset Apple Modem Revenue Loss

Key Facts

1Qualcomm has entered a $60 billion partnership with Amazon to develop silicon chips.

2The deal serves as a strategic replacement after Qualcomm lost Apple's modem business.

In a move reflecting the semiconductor industry's push to diversify revenue streams beyond smartphones, Qualcomm has entered into a massive $60 billion partnership with Amazon to develop custom silicon chips. According to reports, this deal serves as a strategic replacement following the loss of Qualcomm's modem business with Apple, as the company aims to establish a stronger foothold in the competitive AI and data center infrastructure market.

This partnership emerges amid intense competition among tech giants, with market data showing steady performance from peers as of September 11, 2026, with Microsoft (MSFT) closing at $495.63 and Meta (META) at $648.03. Qualcomm is betting on this collaboration to mitigate the impact of Apple's shift toward in-house technology, which has historically pressured the chipmaker's traditional revenue models.

At the close of September 11, 2026, QCOM stood at $181.97, while AMZN was priced at $256.78 and AAPL at $332.27. Investors are now watching for the execution of this multi-year deal and its ability to generate tangible returns, especially as the upcoming economic calendar shows a lull in major catalysts directly impacting the semiconductor sector following a series of recent international growth and inflation data points.