Qualcomm Wins Meta Order, Enters AI Data Center Chip Market and Acquires Modular

Qualcomm has long relied on Snapdragon mobile chips as its core revenue driver, but is now using the Dragonfly C1000 to enter the AI data center market and challenge established server and ASIC suppliers. The company expects mobile handsets to account for only one-third of revenue by 2029. Its partnership with Meta and efforts to strengthen its software capabilities are central to expanding its non-handset businesses.

Qualcomm recently unveiled the Dragonfly C1000, designed specifically for agentic AI with more than 250 cores and clock speeds above 5GHz. It also signed a cooperation agreement with Meta, with mass production expected in 2028. At the same time, Qualcomm plans to acquire AI software company Modular for about $3.9 billion in stock, aiming to build an AI computing platform that can run across different chips.