QCOM Stock Jumps 15% After-Hours — Massive AI Revenue Targets And Meta Deal Power Qualcomm Rally

• Qualcomm doubled its fiscal 2029 non-handset revenue goal to $40 billion and lifted its automotive revenue target to $10 billion.
• The chipmaker struck a deal with Meta to supply data center CPUs for AI infrastructure, with production of its Dragonfly C1000 slated for 2028.
• Retail sentiment on Stocktwits turned ‘bullish,’ while message volume surged 550% over the past month.

Shares of Qualcomm Inc. (QCOM) jumped nearly 15% in after-hours trading on Wednesday after the company outlined a series of updated fiscal 2029 revenue targets at its investor day. Apart from the revenue targets, Qualcomm also announced a deal with Meta Platforms (META) to use its chips in AI-focused data center infrastructure.

Earlier, during the regular trading session on Wednesday, QCOM shares ended 3.29% lower.

QCOM Raises FY2029 Targets

The chipmaker raised its non-handset revenue target to $40 billion, about double its previous fiscal 2029 target. It also announced a comprehensive data center AI infrastructure strategy with a revenue target of more than $15 billion a year by fiscal 2029. It also set targets of over $14 billion from IoT, $8 billion from industrial, networking and robotics, and $6 billion from personal AI and compute.

Qualcomm said its automotive business is on track to exit FY2026 at a $6-billion annualized revenue run rate, while its automotive design-win pipeline has grown to $65 billion. It expects automotive revenue to reach $10 billion by fiscal 2029.

The company added that handsets will account for about one-third of QCT revenue by fiscal 2029, within a projected $1.7 trillion total addressable market by 2030.

QCOM, META Expand Partnership

Qualcomm announced a deal with Meta Platforms (META) under which Qualcomm will supply data center CPUs for Meta’s infrastructure, including its Dragonfly C1000 chip. The processor is expected to power Meta’s next-generation server fleet and support future data center expansion, with production set to begin in the second half of 2028.

Qualcomm said the Dragonfly C1000 is a data center CPU designed for agentic AI workloads, aimed at delivering strong computing performance while keeping power consumption low.

Meta CEO Mark Zuckerberg said the company is “excited to continue partnering with Qualcomm Technologies” as it builds next-generation CPUs to support its AI ambitions. Zuckerberg added that Meta is working toward delivering “personal superintelligence to everyone in the world.”

Qualcomm CEO Cristiano Amon said the partnership reflects an expansion “from devices to data center,” calling it “just the beginning.”

QCOM Secures Hyperscaler Deals

Qualcomm said it has secured two major hyperscaler deals that are expected to generate meaningful revenue, while its custom silicon business is projected to begin contributing meaningful revenue from Q1 2027. The company also expanded its partnership with Hugging Face to support developer-driven AI across devices and cloud infrastructure.

Separately, Qualcomm said earlier on Wednesday that it has agreed to acquire software infrastructure firm Modular in a $3.92-billion deal. The chipmaker said the acquisition is aimed at strengthening its ability to deliver a more optimized artificial intelligence compute layer.

QCOM Stock: What Stocktwits Retail Sentiment Says

On Stocktwits, retail sentiment for QCOM was ‘bullish’ from ‘bearish’ a week ago. Over the past 30 days, the watcher count for QCOM rose by 1.9%, while message volume surged by 550% during the same period.

One bullish user said, “$QCOM i listened to the investor call and it was probably one of the best calls I’ve listened to. What they’re doing is aiming to be a trillion $ business by 2030. I feel like at these levels it would be accumulation to the next leg up to $300.”

The QCOM stock has gained nearly 14% year-to-date.

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