Qualcomm projects AI data center revenue milestone, shares react to new long-term target

By Daniel Hoffmann, Chart & Technicals desk. Reviewed prior to publication on 2026-06-25, 21:23.

Qualcomm (US7475251036) has put a concrete number on its artificial intelligence data center ambitions. The company is now forecasting more than 15 billion US dollars in annual sales from AI components for data centers by fiscal 2029, according to market commentary from Barchart on Thursday summarizing US chipmaker moves, while its NASDAQ-listed shares moved in a mixed broader US tech tape.

New long-term AI revenue goal

The fresh indication of "more than 15 billion" dollars in annual AI data center revenue by fiscal 2029 positions Qualcomm alongside larger rivals aiming to capture infrastructure demand, as highlighted in Thursday's Barchart market overview detailing chipmaker moves and guidance. The projection refers specifically to components supplied into data center systems used to accelerate AI workloads.

For context, that potential AI data center revenue stream would represent a sizable additional line alongside Qualcomm's existing businesses in smartphone application processors and radio modems, which remain key drivers in its QCT segment per recent filings with the US Securities and Exchange Commission. The longer-dated target comes as data center customers expand investments in accelerators to handle generative AI and large language models.

Positioning among AI chip peers

The new data center AI ambition comes as peers such as Nvidia and AMD also court hyperscale cloud operators with accelerators and platform offerings, creating an increasingly competitive landscape for silicon and system design wins. Qualcomm has previously pitched its AI capabilities through both dedicated accelerators and AI functionality embedded in Snapdragon platforms, targeting on-device and edge workloads in parallel to data center opportunities.

Thursday's Barchart commentary noted that Qualcomm shares were up by more than 3 percent during the US session after the AI data center revenue indication, in a market where the Nasdaq 100 index traded slightly lower as weakness in some large-cap technology names offset strength in selected chipmakers according to the same intraday index overview. This puts Qualcomm in the group of semiconductor names benefiting from renewed enthusiasm around AI infrastructure spending.

What Qualcomm sells in AI chips

Qualcomm's portfolio for AI workloads spans its Cloud AI 100 accelerator line for data centers and its Snapdragon system-on-chip families, which integrate dedicated neural processing units to run machine learning models on devices. These products are designed to execute inference tasks efficiently, complementing training-focused accelerators typically deployed by larger data center operators.

Where the stock trades today

On the NASDAQ exchange, Qualcomm shares last traded during Thursday's US session at a level consistent with a single-digit percentage gain intraday in US dollars, according to real-time pricing snapshots on major quote platforms, reflecting investor interest in the company's expanded AI data center revenue guidance.