Qualcomm Lands Major Amazon Deal, Partners on Custom AI Chips

Qualcomm, a leading chipmaker, has struck a long-term partnership with Amazon to develop custom chips for large-scale AI data centers.

The agreement marks a major step in Qualcomm's push beyond smartphones and into the rapidly growing AI infrastructure market.

The deal could involve up to $60 billion in purchases of Qualcomm AI data-centre chips and related products, according to reports.

Qualcomm shares surged after the announcement, with the stock rising sharply during Tuesday's trading session before paring some gains. Shares gained more than 3%, while other market reports showed the stock rising as much as around 8% earlier in the session.