{"text":[[{"start":9,"text":"Qualcomm will supply its data centre processors to Meta as it seeks to establish itself as a major player in the AI data centre boom and cut into Nvidia’s share of the multibillion-dollar market."}],[{"start":21,"text":"The San Diego-based chip company, best known for its smartphone chips, on Wednesday said it had lined up two more Big Tech customers for its data centre chips."}],[{"start":30.45,"text":"Qualcomm upped its full-year 2029 non-handset revenue forecast to $40bn, roughly double its previous estimate. That figure includes a target of $15bn in revenue from its new data centre business."}],[{"start":45.1,"text":"The announcement is likely to please investors who were looking for signs of further momentum after it first entered the AI data centre market last year, striking an infrastructure deal with Saudi Arabia’s Humain. "}],[{"start":57.150000000000006,"text":"Qualcomm’s shares rose as much as 15 per cent in after-market trading following the release of its revenue projections. "}],[{"start":64.95,"text":"The group has aimed to reinvent itself in recent years as its long-term chip supply deal with Apple winds down, with the iPhone maker increasingly bringing its chip designs in-house. This has included a growing business in automotive, PC, robotics and wearables technologies."}],[{"start":80.95,"text":"Qualcomm’s new C1000 data centre central processing units — or CPUs — will be used to power Meta’s fleet of servers beginning in late 2028."}],[{"start":91.60000000000001,"text":"The deal is the latest in a spree of partnerships that Meta has made with chip companies to provide it with the technology to train and run AI models. It struck similar AI CPU supply deals with Nvidia and SoftBank-backed Arm earlier this year."}],[{"start":107.70000000000002,"text":"Meta’s capital spending is set to hit as much as $145bn this year. It is considering raising tens of billions of dollars in a stock offering to help fund the staggering build-out."}],[{"start":119.00000000000001,"text":"Qualcomm’s chief financial officer Akash Palkhiwala told the FT the company had secured two other “global-scale hyperscaler” clients for its custom chips, but declined to name them."}],[{"start":129.65,"text":"Revenue generated by the two clients would begin “coming through” for Qualcomm by the end of this year, he added. "}],[{"start":135.70000000000002,"text":"Over time, the company is aiming to grab a 5 per cent share of what it predicts will be a $1tn AI data centre chip market. "}],[{"start":143.60000000000002,"text":"Microsoft chief executive Satya Nadella on Wednesday said his company was “look[ing] forward” to building on Qualcomm’s data centres, without providing a firm commitment."}],[{"start":153.05,"text":"Speaking at Qualcomm’s investor day on Wednesday, chief executive Cristiano Amon sought to dismiss concerns that the group had arrived late to the data centre party. “It’s never too late for Qualcomm,” he said."}],[{"start":165.4,"text":"Semiconductor stocks have raced to record highs this year as prices have surged for the chips that drive AI, as well as the manufacturing equipment required to fill new chip factories around the world. The move has been exacerbated by suppliers’ struggle to match soaring demand from Silicon Valley giants."}],[{"start":182.65,"text":"Qualcomm on Wednesday also said it would acquire AI software infrastructure company Modular for about $3.9bn in stock, with the deal expected to close in the second half of this year."}],[{"start":201.95000000000002,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1782352596_4374.mp3"}