Bloomberg Podcasts · Qualcomm Jumps on $15B Data Center Sales Projection

1. 1. Qualcomm projects $5 billion in data center revenue for fiscal 2027 and $15 billion for fiscal 2029, driven by customer engagements and new technology.
2. 2. Qualcomm's data center strategy focuses on power-efficient, disaggregated compute with a custom CPU, a new memory solution that avoids HBM, and accelerators for AI workloads.
3. 3. Qualcomm has a contract with Meta for two generations of CPU, leveraging an existing strategic relationship from Snapdragon-powered VR headsets.
4. 4. Qualcomm exited the data center business in 2017-2018 due to software barriers and market immaturity, but re-enters now because AI-driven disaggregation creates new opportunities.
5. 5. Qualcomm's acquisitions of Alpha Wave, Ventana, and Nuvia have been integrated into sellable products, with founders staying on via all-stock deals.
6. 6. Qualcomm expects the Android market in China to be flat to slightly down in 2027 due to memory price increases, not demand weakness.