Qualcomm enters the data center market with its own processor
Qualcomm is pushing further into the data center market with a new processor called the Dragonfly C1000. The chip is optimized for AI agents and designed to deliver high performance at low-power consumption, according to Qualcomm. Meta plans to deploy the processor starting in 2028.
Qualcomm is also acquiring AI startup Modular for roughly $4 billion, Reuters reports. Modular builds software that lets AI applications run across different chip architectures. Last year, Qualcomm unveiled its first two AI accelerator chips for data centers.
Qualcomm's stock jumped 15 percent in after-hours trading after the company nearly doubled its revenue forecast for non-smartphone businesses to $40 billion by 2029. For data centers alone, Qualcomm is targeting $15 billion.
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