Qualcomm CFO Touts 'Well-Priced' Stock After Amazon Deal and AI Software Push

Qualcomm's CFO Akash Palkhiwala called the company's stock 'well-priced' after an agreement with Amazon to supply data center chips. The deal includes warrants for up to 25 million QCOM shares, vesting partly on purchases hitting $60 billion over 10 years.

The agreement is seen as a landmark deal for Qualcomm, which targets $15 billion in data center revenue by fiscal 2029. Palkhiwala said another unnamed hyperscaler engagement is also progressing.

Qualcomm's 'port once' AI software, acquired through the Modular acquisition, allows developers to deploy models across different chip platforms, including Nvidia and AMD.