Amazon bets $60B on Qualcomm AI chips and takes a stake in the San Diego chipmaker

Amazon has struck a 10-year deal to buy up to $60 billion worth of Qualcomm AI data-center chips and gains the right to purchase $4 billion in Qualcomm stock, signaling a major shift for Qualcomm away from smartphone revenue toward hyperscale AI data centers. Qualcomm’s leadership framed this as part of a broader plan to replace smartphone-driven revenue with data-center deals, and analysts view the partnership as a strong vote of confidence that could attract additional hyperscaler customers, with Qualcomm aiming for $5 billion in data-center revenue by 2027 and $15 billion by 2029.