Qualcomm Sets $15B Data Center Chip Sales Target by 2029, Raises Non-Handset Revenue Forecast to $40B — QCOM Surges 13% After Hours

At its investor day, Qualcomm projected $15B in data center chip revenue by 2029 and raised its total non-handset chip revenue forecast to $40B by 2029, up from a prior $22B target, marking an accelerating pivot from smartphone SoCs to AI infrastructure silicon. The guidance follows the Dragonfly C1000 CPU launch and a confirmed multi-generational supply agreement with Meta. QCOM jumped more than 13% after hours on the news, its largest single-day gain tied to an AI chip strategy pivot this quarter.