This AI Chip Stock Just Signed Massive Deals With 3 Hyperscalers, and It Still Looks Like a Great Buy Right Now (Hint: Not Nvidia or Intel)
Data center chip sales could go from $0 to $15 billion in four years.
Overview
Ever since OpenAI released ChatGPT in November 2022, the AI industry has been characterized by ever-growing demand for compute. That demand has taken several forms over the years.
First, massive data centers required as many GPUs as they could find, leading to a boom in Nvidia (NASDAQ: NVDA) sales. Then, GPUs required more and more high-bandwidth memory. In the age of agentic AI, many developers see a growing need for CPUs, like those from Intel (NASDAQ: INTC).
Details
One company is making the most of its opportunity, recently signing three massive deals with hyperscalers. Qualcomm (NASDAQ: QCOM) expects to grow its data center chip business from practically nothing last year to $15 billion by 2029. And it's off to a strong start.
Source
Originally published at www.fool.com.