Qualcomm Stocks Soar on AWS Partnership and Strong Q3 Earnings
Qualcomm Incorporated's stock saw significant gains on September 11, 2026, closing at $181.97 on Nasdaq, up 2.88 percent from the previous day. This uptick came as investors digested fresh details of its long-term AI chip partnership with Amazon Web Services and the latest quarterly figures.
The multi-year agreement between Qualcomm and Amazon Web Services involves custom data center chips and optical networking products, tied to warrants and potential purchases of up to $60 billion through 2036. This deal is expected to drive growth in Qualcomm's non-handset business, with the company targeting $15 billion in data center revenue by fiscal year 2029.
Qualcomm's latest quarterly figures showed a beat on market expectations, with Q3 FY2026 revenue reaching $9.95 billion, a 2.84 percent increase over projections. The automotive segment delivered record revenue of $1.6 billion, marking a 61 percent year-over-year increase.