semiconductor / news / / The Economic Times
Qualcomm stock jumped nearly 15% on Thursday morning as investors became more excited about the company's growing role in the AI market.
Qualcomm is partnering with OpenAI to develop an AI-focused smartphone chip for production in 2028.
KEY POINTS
- Qualcomm completed a $2.3 billion acquisition of Alphawave to grow its data center business.
- Qualcomm’s automotive business crossed $5 billion in annualized revenue for the first time.
- The company announced a $20 billion stock buyback and raised its quarterly dividend to $0.92.
- US-China tariff pause provided relief for Qualcomm by reducing concerns over weak Chinese smartphone demand.
COMPANIES
Summarized by Newsio from The Economic Times. How we summarize →