QCOMQUALCOMM Incorporated

“By the end of the fiscal year, we will begin commercial shipments of our fifth-generation Snapdragon digital chassis platform. This represents the largest generation-to-generation content increase in Qualcomm's history, delivering 3x higher CPU throughput, a threefold increase in GPU capability and 12x higher NPU performance while supporting in-vehicle agents and processing for Level 3 and Level 4 autonomous driving.”

“In data center, the Alphawave integration is off to a great start, and we're pursuing multiple opportunities with large hyperscalers, cloud service providers, sovereign AI projects and other global partners. Building on that momentum, we're also entering the custom silicon space beginning our ramp with a leading hyperscaler and we expect initial shipments in the December quarter.”

“our [indiscernible] NPU is the world's fastest for laptops delivering up to 85 tops together with our industry-leading CPU, which has the best on-device token generation rate. Snapdragon X2 delivers the full agent experience end-to-end and outperforms Intel's [indiscernible] Lake by nearly 30%.”

“we are very excited about the progress in our data center products and customer traction. We now expect initial shipments for our custom silicon engagement at a leading hyperscaler later this calendar year.”

“specifically on your question on this custom engagement we talked about, we do expect that to be accretive at the operating margin level.”

“we have now enabled more than 1 million cars operating ADAS and autonomy on our Snapdragon Ride processors.”

“the answer is all of the above. Look, we -- first of all, as a new entrant, I think we we're very flexible. But we also look at the reality of what's happening in the hyperscalers. You can see that the majority of the revenue for semiconductor companies is heavily concentrated in a few number of very large companies. And those companies have now had indicated very clearly, they have different -- as the data center gets disaggregated, you have different approach to compute to connectivity. And you should assume that Qualcomm will play on merchant, on custom and it's going to be a combination of how we're going to configure our IP and different IP blocks for different solutions is going to be a bespoke business.”

“we have spent the time, I think, building assets and we've been building our CPU. We have accelerator. We have a different solution for memory in the accelerator. We have added a lot of capabilities for custom ASIC with the acquisition of Alphawave and Connectivity, we have been pursuing customer ASIC. We talk about have an engagement with a number of companies and pleased with the engagement several quarters ago. And I think given the capabilities that we're developing and what's happening in the market, that's accelerating. So we're very excited. The only thing I can tell, it is a large hyperscaler and we're really thinking about a multi-generation engagement.”

“Our 2026 Snapdragon X2 PC platforms are currently in production and our world-class Orion CPU unlocks powerful always on agentic experiences, making it a true competitive differentiator. Agentic orchestrators such as Open Claw, Claude desktop, Claude Code, OpenAI Codex desktop, Perplexity Computer, Crew AI, Armes agent, Landgraf and Humane 1 running on Snapdragon X2 are early proof points.”

“6G creates some very interesting, I think sovereign AI and data center opportunities, I think, for Qualcomm as well. You should be thinking about our time line, and we've been consistent with it. We will have prototype base, I think, demonstrations in 2028. Likely, we're going to have first silicon in '28, and we want early launches in 2029, and then we expect that to get scale by 2030.”

“when you think about agents, CPU becomes very important. And I will argue, we were one of the companies that have a pretty good CPU asset. We've proven that CPU performance with leading performance on the markets that we are right now, such as PC, smartphone and Auto. And we have built and we'll provide details on Investor Day a dedicated CPU for agentic experiences in the data center.”

“we have -- I'm pretty positive for the past several quarters, we've been talking about engaging with customers in the data center. So I think when we start engaging and talking about some of the Qualcomm capabilities, it's probably, I think, even before the acquisition of Alphawave. I think the acquisition of Alphawave increase our execution capabilities in the portfolio of IP.”

“We're pleased with the performance of our automated driving stack with BMW, and we're seeing broad customer engagement from other leading automakers. Our recent announcement with Bosch and Wave are good examples of what's to come as we build on our proven platforms and self-driving stack and scale ADAS.”

“Our Dragonwing IQ10 platform has generated substantial customer interest since our launch at CES. This is a significant upgrade compared to IQ9, feature an NPU with up to 700 [indiscernible] of on-device AI performance an 18 core Orion CPU over 20 camera sensors in an integrated safety [indiscernible].”

“as we add processors and you started to see more and more development of L2++ in direction towards Level 3, you're starting to see the amount of computing power going up. So for us, it's basically a significant revenue accelerator within automotive.”

“Building on our design win with Figure AI, we announced an exciting multiyear agreement with Nora reinforcing our confidence that we can become a significant player in the broad robotics market.”

“development of our leading data center CPU and high-performance AI inference accelerators is progressing well. We look forward to sharing more details and customer wins at Investor Day in June.”

“Last quarter, we highlighted that the increasing demand for memory and AI data centers was driving uncertainty in memory supply and price increases to handset OEMs.”

“To help shape and accelerate the 6G road map at MWC, we launched a 60 company coalition spinning carriers, cloud infrastructure, AI native partners and auto OEMs.”

“Several new industrial AI products are also moving from design win to deployment across retail, utilities, oil and gas, agriculture and other verticals.”

“In the beginning, it was all about training. It was all about creation of AI, a lot of GPU, very GPU-centric deployment. Infra started gain scale and then the conversation changed to -- I'm going to use my GPU from training on the cluster that I build and when I'm not training, I'm going to use that for inference. As inference starts to gain scale, we started to see dedicated solutions. The data center becomes more disaggregated. You have separate computing solution, some for compute bounds, some from memory bound. And now we're entering the, I will say, the next phase, which how AI is really going from infant generating tokens how do you generate demand for tokens, which all those agentic experience and those orchestrators, they run into a lot of the devices.”

“I think the activity you've seen with companies like Grok and [indiscernible] just prove that you have opportunity for a dedicated inference accelerator. And the last point is, I would not discount the position that we have on the edge. If you actually track what's happening with Open Claw in all of the different desktop and co-work solutions, you rely a lot on a high-performance CPU device, which is also causing an upgrade cycle for us.”

“Design for the age of AI will believe 6G will present one of the most significant transitions for the wireless industry. From a connectivity perspective, 6G will enable new classes of mobile and personal devices such as smart glasses with enhanced uplink capabilities to support agentic use cases like see what I see. Beyond connectivity, 6G will be an AI-native network where AI reasoning, learning and autonomous action are core functions.”

“the pace of change of AI is getting scale. When I think about the framework that I talked about it before, which you go from inference to now, you know how you generate demand for tokens with a lot of agents. And I think what we see is 2 things. One is the devices are changing the requirements in the design and the players. We see interesting associations now starting to form between smartphones and AI companies.”

“we think agentic smartphone will soon begin to influence the premium tier and we expect this [ theme ] will only get stronger into fiscal '27 with examples like the [indiscernible] powered, agentic AI phone from ZTE Nubia. Xiaomi's recent announcement of [indiscernible] agent framework and other agentic [indiscernible] systems now in development across the Android ecosystem”

“For agents to work efficiently, they must run continuously in the background, fuel sensor data into context, orchestrate multistep tasks reliably and deliver strong security. Today's installed base of devices were not built for this new capabilities, and it represents a significant upgrade opportunity and expansion of our addressable market in the coming years.”

“The emergence of agentic AI workload with [indiscernible] as an early example are fundamentally changing user experiences across connected edge devices and reshaping our roadmap in every platform we develop.”

“In IoT, agentic workloads and edge AI are driving major product renewal design cycles. Overall, our pipeline is healthy, and there is clear momentum for Qualcomm solutions.”

“we're confident in the underlying fundamentals around Snapdragon product leadership and content growth opportunities, including the adoption of agentic AI technologies.”

“Agent orchestration is predominantly CPU bound and Qualcomm has the world's best-performing CPU across smartphones, PCs, auto and soon the data center.”