QUALCOMM INC/DE (QCOM) Company Report

Qualcomm highlighted its entry into the data center inference market with the AI 200 (evolutionary) and AI 250 (purpose-built) accelerators; the first customer deployment is a 200 MW Saudi National AI Co. data center.
The company is developing a custom CPU head node and a high-density NPU architecture for efficient inference, supported by the Alphawave acquisition to provide scalable connectivity IP and SoC expertise.
Beyond handsets, Qualcomm is expanding its Snapdragon Digital Chassis in automotive (with BMW stack wins), advancing personal AI devices like smart glasses for agentic experiences, and bolstering industrial IoT via the Arduino acquisition.
Qualcomm reaffirmed its non-handset revenue target of $22 billion by FY 2029, which has been accelerated by one year, and is planning its business assuming the complete exit of Apple’s modem business by 2027.

2 days ago

Transcript

Qualcomm details AI200/AI250 data center strategy and growth drivers at UBS 2025 Tech Conference

QCOM

Product Launch

M&A

New Projects/Investments

Qualcomm is entering the AI inference data center market with the evolutionary AI 200 and purpose-built AI 250 (ramping in 2028), leveraging a custom CPU for the head node and a high-density NPU; first deployment is a 200 MW data center with Saudi National AI Company.
The Alphawave acquisition adds critical high-speed connectivity IP and a custom SoC team to scale the AI 250 roadmap and execution capacity.
In adjacencies, auto is driven by a growing design-win pipeline and the Snapdragon Digital Chassis stack with BMW for software-defined vehicles, while personal AI devices like glasses (projected $2 billion of non-handset revenue by 2029) will run low-latency models on-device and heavier tasks in the cloud.
In handsets, Qualcomm is outpacing a flat 1.2 billion-unit market by targeting the premium/high tier (“share-wallet” strategy), achieving ~75% baseline modem share at Samsung and strong brand preference in India akin to China.
Qualcomm plans to exit Apple modem supply by the fall 2027 iPhone launch (20% share at the 2026 launch) but remains open to longer supply; its licensing business is supported by one of the world’s largest wireless and connectivity patent portfolios.

2 days ago

Transcript

Qualcomm reports Q4 2025 loss on $5.7 billion tax charge, posts record annual revenue

QCOM

Earnings

Accounting Changes

Guidance Update

Qualcomm posted a $3.1 billion net loss in fiscal Q4 2025 due to a one-time, non-cash $5.7 billion tax charge under the One Big Beautiful Bill Act.
The company achieved record annual revenue of $44.3 billion, up from $39 billion year-on-year.
QCT segment revenue increased 13% to $9.8 billion, while QTL revenue rose 7% to $1.4 billion in the quarter.
Adjusted EPS of $3.00 and revenue of $11.27 billion exceeded analyst expectations of $2.88 and $10.79 billion, respectively.
CFO expects a 13–14% effective tax rate going forward, and Qualcomm forecasts higher revenue and earnings next quarter as it expands into AI accelerator chips for 2026–27.

Nov 6, 2025, 12:02 PM

Morningstar

Qualcomm reports Q4 fiscal 2025 results

QCOM

Earnings

Guidance Update

Revenue Acceleration/Inflection

Q4 non-GAAP revenue of $11.3 B and EPS of $3.00 exceeded the high end of guidance, with Licensing at $1.4 B and QCT at $9.8 B, up 9% sequentially.
Fiscal 2025 non-GAAP revenue rose 13% YoY to $44 B, EPS increased 18% YoY to $12.03, and record free cash flow of $12.8 B was returned to shareholders.
QCT delivered record automotive quarterly revenue above $1 B (+17% YoY) and IoT revenues of $1.8 B (+7% YoY); FY 2025 automotive and IoT grew 36% and 22% YoY, respectively.
Q1 FY2026 guidance: revenue $11.8–$12.6 B, non-GAAP EPS $3.30–$3.50, QCT revenue $10.3–$10.9 B with 30–32% EBT margins, and Licensing revenue $1.4–$1.6 B.
On track for fiscal 2029 targets of $8 B in automotive and $14 B in IoT revenue, supported by expanded AI PC, smart glasses, and edge-to-cloud AI initiatives.

Nov 5, 2025, 9:45 PM

Transcript

Qualcomm reports strong Q4 2025 results

QCOM

Earnings

Guidance Update

Product Launch

Qualcomm delivered Q4 revenues of $11.3 B and non-GAAP EPS of $3, both above guidance; FY 2025 non-GAAP revenues rose 13% YoY to $44 B and EPS grew 18% to $12.03.
QCT segment posted $9.8 B in Q4 revenues (+13% YoY) and record automotive revenues > $1 B, with IoT revenues of $1.8 B (+7% YoY).
Generated record free cash flow of $12.8 B in FY 2025, returning nearly 100% to shareholders via repurchases and dividends.
Q1 FY 2026 guidance: revenues $11.8 B–$12.6 B and EPS $3.30–$3.50, with QCT revenues of $10.3 B–$10.9 B and EBT margins of 30%–32%.
Launched Snapdragon 8 Elite Gen 5 mobile platform and new laptop SoCs (X2 Elite/Elite Extreme); unveiled AI inference SoCs AI200 and AI250 for data center inference entry.

Nov 5, 2025, 9:45 PM

Transcript

Qualcomm reports Q4 2025 results

QCOM

Earnings

Guidance Update

Product Launch

Q4 2025 non-GAAP revenues of $11.3 billion and EPS of $3.00, both exceeding the high end of guidance.
QCT segment delivered $9.8 billion in Q4 revenue (up 9% sequentially); achieved record automotive revenues (> $1 billion) and FY 2025 QCT revenues of $38.4 billion (+16% YoY), with automotive +36% and IoT +22% growth.
Full-year fiscal 2025 non-GAAP revenues of $44 billion (+13% YoY), EPS of $12.03 (+18%), and record free cash flow of $12.8 billion, returning ~100% to shareholders.
First-quarter FY 2026 guidance: revenues of $11.8 billion–$12.6 billion and EPS of $3.30–$3.50, with QCT revenues expected to be $10.3 billion–$10.9 billion.
Product launches: Snapdragon 8 Elite Gen 5 platform for flagship AI smartphones; Snapdragon X2 Elite and X2 Elite Extreme for AI PCs; and AI inference SoCs AI200 and AI250.

Nov 5, 2025, 9:45 PM

Transcript

Qualcomm announces Q4 and FY 2025 results

QCOM

Earnings

Guidance Update

Revenue Acceleration/Inflection

Qualcomm reported Fiscal 2025 revenues of $44.3 B, up 14% year-over-year, GAAP EPS of $5.01 (down 44%) and Non-GAAP EPS of $12.03 (up 18%).
In Q4, revenues were $11.27 B, up 10% YoY; GAAP diluted loss per share was $(2.89) (reflecting a $5.7 B deferred tax valuation allowance) versus Non-GAAP EPS of $3.00, +12% YoY.
QCT segment achieved record FY revenues of $38.37 B (+16% YoY), with Non-Apple revenues up 18% and combined Automotive & IoT revenues up 27%.
For Q1 FY 2026, Qualcomm guides to revenues of $11.8 B – $12.6 B and Non-GAAP diluted EPS of $3.30 – $3.50.

Nov 5, 2025, 9:01 PM

8-K

Qualcomm launches AI200 and AI250 chips for data center AI inference

QCOM

Product Launch

Qualcomm unveils AI200 and AI250 inference-optimized chips for data center AI, with commercial availability in 2026 and 2027.
The AI200 supports up to 768 GB of LPDDR memory per card, optimized for large language and multimodal model inference.
The AI250 employs a near-memory computing architecture delivering over 10× higher effective memory bandwidth and reduced power consumption.
Solutions include accelerator cards and racks featuring direct liquid cooling, PCIe/Ethernet scalability, confidential computing, and a 160 kW power cap.
Saudi AI company Humain is the first customer, planning to deploy 200 MW of compute starting in 2026.

Oct 27, 2025, 2:18 PM

Bloomberg

Qualcomm faces antitrust probe over Autotalks acquisition

QCOM

Legal Proceedings

M&A

China’s State Administration for Market Regulation has launched an antitrust investigation into Qualcomm’s acquisition of Israeli chipmaker Autotalks, completed in June 2025 after a more than two-year process.
Autotalks specializes in vehicle-to-everything (V2X) communication technology supporting DSRC and C-V2X (LTE & 5G), aligning with Qualcomm’s strategy to expand its Snapdragon Digital Chassis lineup.
Qualcomm paid $80–90 million for Autotalks, a steep discount to an earlier valuation of around $350 million.
The probe is part of broader US–China trade tensions, which include new port fees, rare-earth export restrictions, and a halt on US soybean purchases ahead of a summit between Presidents Trump and Xi Jinping, and has weighed on Qualcomm’s stock.

Oct 10, 2025, 11:36 AM

Bloomberg

Qualcomm acquires Arduino to boost AI edge offerings

QCOM

M&A

Product Launch

New Projects/Investments

Qualcomm has acquired Italy-based open-source hardware and software company Arduino to expand its presence in automation, robotics, and edge computing.
Arduino, with over 33 million active users, is widely used by both students and professional engineers for electronic prototypes and DIY projects.
The deal will integrate Qualcomm’s chip technologies into Arduino’s platform, including the launch of the Arduino UNO Q microcontroller powered by Qualcomm’s Dragonwing QRB2210 processor for AI-powered solutions.
Arduino will retain its independent brand and support chips from multiple providers, and Qualcomm will introduce AppLab, a new coding tool to bridge robotics and AI development languages.

Oct 7, 2025, 1:11 PM

CNBC

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