Qualcomm Stock Surges on Amazon Data Center Chip Deal
Qualcomm's stock price rose on September 8, 2026, after the company announced a multi-generation collaboration with Amazon for AI data center silicon. The deal gives Qualcomm a larger presence beyond smartphones and is seen as a key catalyst for the company's growth. According to Bloomberg, the tie-up spans multiple generations and Amazon is joining Qualcomm as a data center chip customer.
The warrant covering up to 25 million shares has an exercise price of $161.26, which is below the stock's recent trading level. This means that if Amazon decides to buy Qualcomm shares under the warrant, it will be at a discounted price. The market treated this news as positive, with Qualcomm's stock price rising above its recent trading level.
Qualcomm's latest quarterly figures remain the base case for the shares. In the July 29 quarter, revenue was $9.95 billion, down 4.0 percent from a year earlier, and net margin came in at 21.01 percent. The new Amazon link offers a fresh growth lane while the handset cycle still sets the near-term earnings tone.
Analysts tracked by MarketBeat currently show a consensus rating of Hold and an average price target of $203.76. Qualcomm's product base starts with Snapdragon chips for premium phones and PCs, but the company is now selling more than just handset exposure. The Amazon pact highlights a faster push into custom silicon and optical connectivity for AI infrastructure.