Qualcomm targets $5B in AI data center revenue by 2027 with hyperscaler wins
Qualcomm expects to start generating revenue from two custom silicon deals with major hyperscalers in the December quarter, aiming for $5 billion in fiscal 2027 and $15 billion by fiscal 2029. The company’s management says wafer production for both projects is already underway, marking a shift into AI data center chips. This follows a mixed fiscal Q3, where revenue hit $9.95 billion—beating…
Key points
- Qualcomm expects $5B in AI data center revenue by fiscal 2027, scaling to $15B by 2029 via hyperscaler deals
- Wafer production for custom silicon projects is underway, with revenue expected to begin in the December quarter
- Handset revenue fell 20% in Q3, while automotive revenue rose 61%, but rising expenses and guidance cuts weigh on earnings
The story so far
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Nvidia Isn’t the Only AI Winner. Qualcomm May Be the Next Stock to Watch
247wallst.com · 2 November 2026
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