Qualcomm and Amazon team up on AI chips

Qualcomm announced a strategic partnership with Amazon to develop specialized AI chips for AI data centers. The deal includes granting Amazon rights to purchase shares worth up to $4 billion at a fixed price. The combined value of the agreements between the two companies is estimated at around $60 billion. Qualcomm's stock rose by 4.85% to reach $176.91. The goal of the partnership is to advance AI technology development and improve data center efficiency.