Qualcomm Stocks Soar on $60B Amazon Partnership

Qualcomm's stock surged by as much as 9.5% on Tuesday after the chipmaker announced a massive partnership with Amazon to develop specialized AI processors for hyperscale data center inference operations.

The collaboration, which has the potential to reach up to $60 billion in revenues, involves Amazon receiving a warrant from Qualcomm allowing it to purchase up to 25 million shares at $161.26 per share until September 2036.

Qualcomm and Amazon are also jointly developing advanced optical connectivity technology, featuring a cutting-edge 1.6T solution that can transmit data at speeds of up to 1.6 terabits per second.