Qualcomm Doubles Non-Handset Revenue Target to $40B by 2029, Secures Meta CPU Deal

At its investor day on Wednesday, Qualcomm Inc. (QCOM) doubled its fiscal 2029 non-handset revenue target to $40 billion and announced a major partnership with Meta Platforms (META) to supply data center CPUs. The chipmaker will provide its Dragonfly C1000 processor, designed for AI workloads, with production set to begin in the second half of 2028. QCOM shares jumped nearly 15% in after-hours trading following the announcement. The company also raised its automotive revenue target to $10 billion by fiscal 2029, with a current design-win pipeline of $65 billion.
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