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Qualcomm Raises Revenue Projections, Expands Strategic AI Partnership with Hugging Face
Importance: 88/1005 Sources
Why It Matters
This indicates Qualcomm's successful diversification beyond its core smartphone business, positioning it as a significant player in the booming AI and data center markets, which could drive substantial future growth.
Key Intelligence
- ■Qualcomm significantly increased its 2029 non-handset revenue forecast to $15 billion, nearly doubling previous projections, primarily driven by its data center chip segment.
- ■The revised financial outlook led to a 15% surge in Qualcomm's stock price.
- ■The company announced an expanded strategic partnership with Hugging Face to integrate open-source AI models across both edge devices (Snapdragon platforms) and cloud data centers.
- ■This collaboration will bring Hugging Face AI models to Qualcomm's 'Dragonfly' data center systems, reinforcing its comprehensive AI strategy from device to cloud.
Source Coverage
Google News - AI & Models
6/24/2026Qualcomm expands strategic relationship with Hugging Face to onboard AI models across edge and cloud - Crypto Briefing
Google News - AI & Bloomberg
6/24/2026Qualcomm Projects Data Center Chip Sales of $15 Billion by 2029 - Bloomberg
Google News - AI
6/24/2026Qualcomm stock pops 15% after chipmaker almost doubles projection for 2029 non-handset revenue - CNBC
Google News - Hardware
6/25/2026Qualcomm integrates Dragonfly data center systems into expanded Hugging Face AI partnership - digitimes
Google News - AI & Models
6/24/2026