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Qualcomm rises 4% with Amazon AI deal
Qualcomm announced a partnership with Amazon Web Services to develop the infrastructure for AI data centers. Qualcomm allocated rights to purchase 25 million of its shares valued at $4 billion. The partnership aims to enhance computing and storage capabilities for high-performance networks that support AI applications, especially inference. Qualcomm is competing with companies like NVIDIA in a complex market projected to exceed $60 billion by 2030. The agreement includes long-term investments through 2036 and highlights the growing demand for data center processors as AI continues to rise in importance.
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