Qualcomm Guides Data Center Revenue to $15B by Fiscal 2029
What happened
Qualcomm reported third-quarter revenue of $9.95 billion, which exceeded the $9.67 billion consensus estimate. The company also guided that its non-handset revenue would reach $40 billion by fiscal 2029, with over $15 billion of that coming from data center operations. Furthermore, Qualcomm noted that two hyperscaler custom silicon wins are set to begin generating revenue in the December quarter.
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Why it matters
The guidance highlights strong market momentum in the data center and AI chip sectors. This performance comes as Qualcomm competes directly with Broadcom in the AI and semiconductor markets, while also facing intense rivalry from Nvidia in the same space.
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Who's involved
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- NvidiaSpeculative
Nvidia might see increased demand for AI chip sales as sector sentiment validates high demand for data center solutions.
- Marvell TechnologySpeculative
Marvell Technology might face increased competitive pressure on sales due to Qualcomm's strong performance in AI and ASIC markets.
- AMDSpeculative
AMD might face increased competitive pressure on revenue in the high-stakes AI chip market.
- DellSpeculative
Dell might see increased demand for server contracts driven by Qualcomm's data center revenue guidance.
- IntelSpeculative
Intel might face increased competitive pressure on market share in the advanced chip market.
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The entities involved
Related events
- Semtech Corporation and Broadcom are now noted as competitors operating in different market segments.
- SanDisk and Qualcomm are identified as major players within the semiconductor industry.
- Qualcomm is identified as a leading innovator and manufacturer.
- Nvidia and Broadcom are identified as key semiconductor companies.
- Qualcomm trades on the Nasdaq stock exchange, and both Qualcomm and Marvell Technology are leading semiconductor contributors.