Qualcomm Targets More Than $15 Billion in Data Center Revenue by 2029

Qualcomm is targeting more than $15 billion in data center revenue by fiscal 2029 as it expands into CPUs and other AI infrastructure, with Meta as its first announced CPU customer and production expected to begin in 2028.

The Dragonfly C1000 is part of a multigeneration CPU collaboration for Meta’s data center servers. Production of the first-generation chip is expected to begin in the second half of 2028. The companies did not disclose the agreement’s value or expected chip volumes.

Qualcomm also set a $40 billion fiscal 2029 goal for revenue outside handsets, about twice its previous target. It expects handsets to make up approximately one-third of revenue from its QCT semiconductor business that year.

At its June 2026 Investor Day, Qualcomm estimated a combined $1.7 trillion addressable market across several businesses by 2030. The estimate covers multiple segments and does not provide a separate figure for the CPU market.

Qualcomm’s separate Amazon partnership covers custom AI data center chips and optical connectivity for AWS infrastructure.