Qualcomm forecasts $15 billion of data center revenue by 2029
The company gave no data on its contracts with Amazon and Meta, the partners that it names.
Qualcomm told in its fourth quarter 2026 earnings call that it looks to AI data centers for growth. Smartphone sales are down by around 20 percent compared with 2025. Qualcomm forecasts about $650 million of data center revenue in the first quarter of 2027. It expects $5 billion by the end of 2027 and $15 billion by 2029.
What is new
Qualcomm wants to become larger in the AI data center business through its partnerships with Amazon and Meta. The two partnerships were told earlier this year. The company expects this part of its business to become larger fast.
The numbers
- First quarter of 2027: about $650 million.
- End of 2027: $5 billion.
- 2029: $15 billion.
What is not known
The source gives no data on the size of the Amazon and Meta contracts. It does not tell the type of product that Qualcomm gives to them. It does not tell how Qualcomm will get its targets. These are forecasts from the company, not results.
Insight: Chip makers follow data center money
Intel told that data center revenue went up 78% while PC revenue went down 5%. Its chief executive tells that supply, not demand, limits data center growth. Meta and Amazon each give $1 billion to towns that host data centers. Qualcomm seems to bet on two firms that must get local permits, and its forecast depends on their sites. Find which sites wait for a permit.
Sources
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