Qualcomm stock pops on data center infrastructure deal with Amazon

Qualcomm CEO Cristiano Amon delivers a keynote speech at Computex in Taipei, Taiwan June 1, 2026. Ann Wang | ReutersQualcomm shares jumped 6% on Tuesday after the company announced a data center infrastructure partnership with Amazon Web Services, a major win as the chipmaker tries to take on Nvidia in the artificial intelligence market. According to a press release, Qualcomm is working with Amazon "across multiple generations of customized silicon" to help build out AWS' AI infrastructure, specifically focused on inference. Financial terms weren't disclosed. "As AI workloads grow exponentially — driving unprecedented demand for compute, storage, networking and memory bandwidth, and energy-efficient infrastructure — the collaboration brings together Amazon's comprehensive, secure, and price-performant AI infrastructure with Qualcomm Technologies' leadership in power-efficient processing, silicon design and system-level integration," the statement said. Qualcomm is known for making processors that power smartphones and other mobile devices. But the company made a big splash in June, when it revealed a central processing unit for data centers called Dragonfly C1000, and said that Met...