Qualcomm Shares Surge After Hours as Data-Center Chips Set for 2026 Shipments

Qualcomm has long relied on smartphone processors and modem chips for the bulk of its revenue, but in recent years has diversified into the Internet of Things, automotive technology and AI computing to reduce its exposure to the handset market. Its entry into the hyperscale data-center supply chain extends its product portfolio into a server market contested by NVIDIA, AMD and others, marking an important milestone as investors assess Qualcomm’s next growth engine.

On April 29, Qualcomm reported results for its fiscal second quarter ended March 29, 2026, with revenue of $10.6 billion and adjusted earnings of $2.65 per share. It forecast third-quarter revenue of just $9.2 billion to $10.0 billion, below the market estimate of $10.19 billion. However, CEO Cristiano Amon said the company’s data-center chips would ship in 2026, sending its shares up 12.42% after hours to $175.37.