Overview
- Qualcomm used its investor day on Wednesday to unveil the Dragonfly family and a High‑Bandwidth Compute (HBC) design that stacks memory and compute closer together to cut data movement and energy needs.
- Hours before the event Qualcomm confirmed a planned all‑stock acquisition of Modular for about $3.9 billion to give the company a vendor‑neutral software layer that helps models run across different chip types.
- The company published a staged roadmap: connectivity silicon first, AI inference accelerators sampling in 2027, and the Dragonfly C1000 server CPU expected in production in 2028.
- Qualcomm reported reported hyperscaler commitments including Meta’s multi‑year pledge to use Dragonfly C1000 in 2028 and said Azure has engaged with HBC, with management forecasting two hyperscaler customers will drive at least $1 billion of near‑term revenue.
- Management set targets of more than $15 billion in data‑center revenue and about $40 billion in non‑handset revenue by fiscal 2029 while warning that results depend on execution, regulatory clearance for Modular, memory supply and strong competition from incumbents like Nvidia.