Qualcomm raised its long-term financial targets during its Investor Day on June 24, 2026. The company is executing a strategic pivot beyond its core smartphone chip business.
Management projects revenue from non-handset segments to reach $40 billion by 2029. This target includes contributions from the automotive, IoT, and data center sectors.
Qualcomm expects to generate over $15 billion in annual revenue from data center AI chips by 2029. This initiative places the company in direct competition with Nvidia and AMD within the AI infrastructure market.