Stocks
Qualcomm Surges 4% on Amazon Partnership Deal
Qualcomm's stock has seen significant gains today, increasing by 4% as most of Wall Street headed lower. The chipmaker announced a major data center partnership with Amazon Web Services.
The collaboration involves Amazon receiving warrants covering 25 million Qualcomm shares. This gives Amazon the option to purchase these shares in the future.
The news has been well-received by investors, leading to the significant increase in Qualcomm's stock price.