# Qualcomm reported a fiscal second quarter double‑beat and management's AI‑focused commentary.

*semiconductor · news · 2026-05-08 · Benzinga*

## Key points

- Qualcomm will begin shipping data-center AI chips to a large hyperscaler within the year.
- The company completed $5.4 billion in buybacks and authorized a new $20 billion repurchase program.
- Qualcomm stock is trading 43% above its 20-day SMA and 55.6% above its 50-day SMA.
- RSI is at 82.52, indicating overbought conditions that often precede volatility or pullbacks.

**Companies:** Qualcomm
**Countries:** United States

[Read the full story on Benzinga](https://www.benzinga.com/trading-ideas/movers/26/05/52413448/qualcomm-stock-is-soaring-today-whats-going-on)

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