Qualcomm shares rise on Amazon AI chip partnership

Qualcomm shares climbed following an announcement of a multi-generational AI data-centre collaboration with Amazon. The partnership marks a significant step for the chipmaker in diversifying beyond its traditional smartphone business.

Through the deal, Qualcomm aims to accelerate revenue growth in the data-centre segment by supplying AI chips and connectivity solutions. The multi-year collaboration underscores the company's strategic push into high-margin enterprise and cloud computing markets.