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Qualcomm Signs Major AI Deal with Amazon
Qualcomm, an American company, has signed an agreement with Amazon that allows for the development of customized chips to support Amazon Web Services (AWS)'s artificial intelligence infrastructure, the world's largest cloud computing provider. The deal includes granting Amazon the right to purchase up to 25 million Qualcomm shares valued at up to $4 billion, in phases tied to purchase volumes, with a maximum payment cap of $60 billion over the next decade. Qualcomm expects revenue from this partnership to begin appearing in the first fiscal quarter, supporting its goal of reaching $5 billion in data center revenue by 2027. This agreement is part of the company's strategy to expand into new sectors such as data centers and AI, with Amazon aiming to reduce its dependence on Nvidia processors. The collaboration also reflects a growing trend in the AI industry toward joint investments and long-term partnerships between companies. Following the announcement, Qualcomm's stock rose by up to 8.7% during trading, while Amazon's stock slightly declined by less than 1%.
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