Qualcomm Strikes AI Chip Deal With Amazon, Grants $4 Billion Stock Purchase Right
Qualcomm announced an AI chip agreement with Amazon on September 8 to provide custom AI inference chips for Amazon Web Services, while also granting Amazon a right to purchase approximately $4 billion in Qualcomm stock. The deal pushed Qualcomm shares up about 10 percent in after-hours trading, underscoring the intensifying AI computing arms race.