Qualcomm Unveils Data Center Strategy, Eyes Multiple Growth Inflection Points Over Next 3-5 Years

At its 2026 Investor Day, Qualcomm laid out an accelerated diversification strategy alongside a new, comprehensive push into data center infrastructure, positioning the move as the next stage of growth spanning its full range of compute offerings.

The company significantly raised its non-handset revenue target for fiscal 2029, now aiming for $40 billion, roughly double what it had previously projected. As part of this, Qualcomm introduced a dedicated data center AI infrastructure strategy, with a goal of exceeding $15 billion in related revenue by fiscal 2029. On the automotive side, the company's design-win pipeline has grown to $65 billion, and its revenue target for that segment has been raised to $10 billion by fiscal 2029. Qualcomm is also moving into robotics and industrial AI platforms, framing this as part of the next stage of what it calls Physical AI, and it expects an agent-driven upgrade cycle to take hold across edge devices in the coming years. For fiscal 2029, the company is targeting non-GAAP earnings per share above $18.

Cristiano Amon, Qualcomm's President and CEO, described this as a defining moment for the company, pointing to its push to diversify beyo...