Qualcomm Targets $15 Billion in AI Data Center Revenue by 2029 as Smartphone Sales Drop 20%
Updated
Updated · The Verge · Nov 4
Qualcomm Targets $15 Billion in AI Data Center Revenue by 2029 as Smartphone Sales Drop 20%
3 articles · Updated · The Verge · Nov 4
Summary
$15 billion by 2029 is Qualcomm’s new target for AI data center revenue, outlined on its Q4 2026 earnings call as it pushes beyond its weakening handset business.
A roughly 20% drop in smartphone sales versus 2025 is driving that pivot, with Qualcomm saying data center revenue should reach about $650 million in Q1 2027 and $5 billion by end-2027.
Data center chips are expected to eventually make up about 30% of Qualcomm’s business, a major shift for a company that reported $10.4 billion in total 2026 revenue.
Partnerships announced earlier this year with Amazon and Meta underpin the expansion, as Qualcomm tries to secure a larger role in the AI infrastructure boom.