Qualcomm Stock Slumps on Nvidia's Computex Dominance

Qualcomm's stock took a hit in premarket trading on Monday after the chipmaker unveiled its new AI data-center brand, Dragonfly. Despite the announcement, shares of Qualcomm Inc. (QCOM) fell 7% as attention shifted to Nvidia's Computex blitz.

Cisco Amon, Qualcomm's CEO, said that future AI systems will require 'gazillions' of tokens and emphasized opportunities in robotics, automotive AI, and AI-native 6G networks. He highlighted the importance of power efficiency for autonomous machines and noted that 6G networks will support distributed AI, advanced sensing, and real-time digital twins.

Qualcomm also introduced new Snapdragon chips, including the C Platform for laptops and the 6 Gen 5 and 4 Gen 5 mobile platforms. However, much of the attention at Computex was focused on Nvidia's entry into AI PCs through a new processor developed alongside Microsoft and MediaTek.