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Qualcomm reveals Meta as first Big Tech customer for data centre chips

Announcement of deal by San Diego-based group along with increased revenue outlook boost shares as much as 15%

Qualcomm will supply its data centre processors to Meta as it seeks to establish itself as a major player in the AI data centre boom and cut into Nvidia’s share of the multibillion-dollar market.

The San Diego-based chip company, best known for its smartphone chips, on Wednesday said it had also lined up two more Big Tech customers for its data centre chips.

Qualcomm also upped its full-year 2029 non-handset revenue forecast to $40bn, roughly double its previous estimate. That figure includes a target of $15bn in revenue from its new data centre business.

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