Qualcomm hits near two-month high after deal with Amazon to develop custom chips

QUALCOMM Incorporated

08/09/2026 14:57

Updates
** Smartphone chipmaker Qualcomm's shares QCOM.O rise 4.2% to $175.8, its highest level in nearly 2 months
** Co announces a collaboration with Amazon AMZN.O to develop custom chips for large-scale AI data centers for the e-commerce giant
** QCOM and AMZN to collaborate on optical connectivity solutions to support growing bandwidth demands in AI data centers
** QCOM plans to expand its use of AWS AI tools, including Amazon Bedrock, to accelerate chip designing
** 15 of 41 brokerages rate the stock "buy" or higher, 23 "hold" and three "sell"; median PT is $175 - LSEG data
** Including session's move, QCOM stock up 2.4% YTD

 (Reporting by Anand Gopal in Bengaluru)
 ((AnandGopal.R@thomsonreuters.com))