Category: Markets
Published: 2026-06-30T14:21:00.000Z
Despite a recent 20% drawdown due to smartphone supply constraints, Qualcomm is strategically transforming from a mobile-dependent chipmaker into a diversified AI compute powerhouse. The company acquired Modular for $3.92 billion to gain software infrastructure and the Mojo programming language, while launching the Dragonfly C1000 server CPU with commitments from Meta and Microsoft. By migrating to 2nm nodes, Qualcomm aims to bring data center-level processing to mobile devices, targeting $40 billion in non-handset revenue by fiscal 2029.
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