Qualcomm targets $15 billion in annual AI data center chip sales by 2029, relying on products not yet shipping.
Qualcomm unveiled a $15 billion annual sales target for AI data center chips by fiscal 2029, up from $5 billion in 2027, alongside a $40 billion non-handset revenue goal. The company also projected adjusted EPS above $18 by that year.
Current revenue stands at $10.599 billion for Q2 FY26, down 3.46% year over year, with handsets contributing $6.024 billion. Data center chips underpinning the $15 billion target are not expected to ship until 2028, with custom AI inference silicon still in development.
Qualcomm shares surged 13.3% to 15% in after-hours trading but closed at $204.90 on June 25, down 7.66% from June 22 and 9.38% over the trailing week.