Qualcomm CEO Cristiano Amon on Diversification, AI, and Automotive Growth

Diversification Beyond Smartphones

• 🎯 Qualcomm is executing a strategy to diversify revenue streams, aiming for 50% non-handset business by fiscal 2029.
• 📈 The company projects a second consecutive year of 15% double-digit growth in its chip business (QCT) excluding Apple revenues.
• 🚀 Growth opportunities are being created in areas like data center and robotics, which are expected to exceed initial plans.

Addressing Investor Misconceptions

• 💡 Investors are perceived to be overindexing on the short term and focusing too much on Qualcomm as solely a handset company.
• 🧠 The company possesses unique and competitive IP beyond communications, including compelling computing IP for CPU, GPU, and AI accelerators (NPU).
• 🌐 This IP is enabling leadership positions in other industries, driving growth and diversification.

AI at the Edge and in Devices

• 📱 The use of AI in devices is rapidly increasing, with a 3x increase in Google Gemini usage on the Samsung Galaxy S25 compared to the S24.
• 👓 Qualcomm demonstrated a one billion parameter model running on smart glasses, enabling immediate responses for local processing.
• ☁️ It's a mistake to distinguish between cloud-connected and on-device AI; smartphones are highly cloud-connected, leveraging significant processing power.

Automotive Business Growth

• 🚗 Qualcomm's automotive growth is driven by converting its design win pipeline into revenue as new car models launch.
• 💻 There's an acceleration in content per vehicle, with more computing power dedicated to digital cockpits for generative AI use cases and infotainment.
• 🛣️ Content for ADAS (Advanced Driver-Assistance Systems) and autonomy is also increasing processing demands, with a roadmap for continued content growth in software-defined vehicles.

Legal and IP Landscape

• ✅ Qualcomm is fully licensed for Orion CPUs following a trial, confirming its ability to build ARM-compatible CPUs.
• 🏆 The company is confident in its ability to continue producing and shipping high-quality ARM-compatible CPUs across all its markets.