With smartphone sales down about 20 percent compared with 2025, Qualcomm is turning to data centers. On its Q4 2026 earnings call the company laid out its plans for the AI data center market, including through partnerships with Amazon and Meta announced earlier this year.
According to The Verge, Qualcomm forecasts about $650 million in data center revenue in the first quarter of 2027, reaching $5 billion by the end of 2027 and $15 billion by 2029. The company's total revenue for 2026 was $10.4 billion.
The company confirmed it expects data centers to eventually account for about 30 percent of its business. AMD, by comparison, expects more than 80 percent of its revenue to eventually come from data centers.