Qualcomm Lands $4B AWS Deal, Boosts Stock Price

Qualcomm's stock price surged after the company secured a significant deal with Amazon Web Services (AWS) to supply custom silicon for AI inference and data-center networking.

The agreement also includes an option for AWS to purchase up to $4 billion in Qualcomm stock, underscoring the strategic importance of the partnership.

Qualcomm CFO Akash Palkhiwala said revenue from the deal will start flowing in the December quarter, with the company's CEO describing it as 'the first of many.'

The Amazon deal marks a major shift for Qualcomm, which has been pushing to reduce its dependence on the smartphone market amid weakening handset demand and rising component costs.