20 Hrs
Source:
Sky News
Qualcomm inks large AI deal with Amazon
Qualcomm has struck a strategic deal with Amazon that involves supplying customized chips for Amazon Web Services (AWS) AI infrastructure, along with granting Amazon the right to purchase shares in the company valued at up to $4 billion. The goal of the deal is to strengthen Qualcomm's presence in the data center and artificial intelligence sectors, especially as the growth of the smartphone market slows down. Qualcomm will develop chips to support AWS's infrastructure, with the potential to acquire up to 25 million shares at $161.26 per share, amounting to up to $60 billion over ten years. Investors welcomed the deal, causing Qualcomm's stock to rise by 3.2%, while Amazon's shares saw a slight decline. This move is part of Qualcomm's broader strategy to expand into new sectors, aiming to deepen relationships with major clients and foster growth in the highly profitable data center market.
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