# Qualcomm shares staged a dramatic turnaround after the bell on Wednesday.

*semiconductor · news · 2026-04-29 · CNBC*

## Key points

- Qualcomm will begin shipping data center chips to a major hyperscaler customer this year.
- Further details about the hyperscale customer will be disclosed at Qualcomm's June investor day.
- OpenAI recently partnered with Qualcomm to develop an AI chip for smartphones and future AI devices.
- Qualcomm’s Q3 revenue forecast missed analyst expectations, projecting $9.2 billion to $10 billion.
- CEO Cristiano Amon said current quarter smartphone sales in China represent a market bottom due to low inventory.

**Companies:** Qualcomm
**Countries:** United States, China

[Read the full story on CNBC](https://www.cnbc.com/2026/04/29/qualcomm-qcom-stock-earnings-china.html)

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