Qualcomm Just Promised $15 Billion in AI Chip Sales, but There's a Catch: The Chips Don't Exist Yet - 24/7 Wall St.

At Qualcomm's Investor Day on June 24, 2026, Cristiano Amon unveiled a bold forecast: $15 billion in annual data center AI chip sales by fiscal 2029, up from $5 billion in 2027, alongside a $40 billio... Read original →

Qualcomm’s $15B AI chip forecast hinges on unproven silicon launching in 2028—a capital-market narrative masking its declining mobile core. Technically, Dragonfly’s reliance on HBM4 and advanced packaging ties it to Micron and Alphawave, amplifying supply chain fragility amid U.S.-China tech decoupling, especially through Taiwan, China and South Korea. NVIDIA will likely lock cloud customers with Grace-Hopper upgrades, while AMD’s Meta-backed MI450 already secures inference foothold. Over the next 12–24 months, Qualcomm must demonstrate decisive performance-per-watt advantages; otherwise, its roadmap risks being dismissed as vaporware. The market’s swift stock reversal signals clear skepticism: in today’s AI hardware arms race, tape-outs beat slide decks.