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Qualcomm stock was trading 16% higher at $180.97 around 12:15 pm ET on Thursday.
Qualcomm announced a custom silicon chip partnership with an unnamed leading hyperscaler customer.
KEY POINTS
- Initial shipments for the custom silicon engagement will begin later this calendar year.
- Qualcomm executives described the deal as a multi-generation engagement, but withheld the customer's identity.
- Qualcomm reported its China smartphone chip segment should bottom out next quarter and return to growth.
COMPANIES
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