Qualcomm shares jumped 16 percent in after-hours trading after executives said the company plans to supply data centre chips to a large hyperscaler this year.

On April 29, CNBC reported that Qualcomm's second-quarter results beat market forecasts, but the stock at one point fell more than 7 percent after the close as its third-quarter revenue guidance missed expectations. The shares then rebounded sharply after CEO Cristiano Amon (크리스티아노 아몬) mentioned plans to supply data centre chips.

Amon said on an earnings conference call that Qualcomm plans to begin shipping data centre chips within this year to one "large hyperscaler." He did not name the customer and said more details would be disclosed at a June investor day event. Qualcomm setting out a specific supply schedule in the AI data centre chip market, where competitors such as Nvidia are ahead, is seen as having raised investor expectations.

Results were mixed. Qualcomm's adjusted earnings per share was $2.65, beating market expectations by $0.09. Revenue was $10.6 billion, in line with expectations. Qualcomm forecast third-quarter revenue of $9.2 billion to $10.0 billion, below the market expectation of $10.19 billion.

Market focus shifted from the earnings figures to future growth drivers. Qualcomm unveiled its own data centre chip last year, and last week announced cooperation with OpenAI to develop AI chips for smartphones. Amon said at the earnings release, "The rise of AI agents is reshaping the roadmap for every platform we build," adding that the company's overall strategy is moving in line with AI-driven changes.

Comments on China demand also helped stabilise investor sentiment. Amon said, "This quarter will be the bottom," and that customer inventories are being worked down. This is seen as a signal that inventory adjustments by Chinese customers could be entering an easing phase.

Qualcomm is well known for its Snapdragon smartphone processors and 5G modem technology. It has expanded into areas such as personal computers and autos, but a significant portion of revenue still comes from core smartphone-related technologies.

Amon said those business segments "allow us to precisely understand how many products are moving in the end market." He emphasised that this allows the company to 확인 changes in actual smartphone demand relatively quickly.

Smartphone market conditions remain a burden. IDC said global smartphone shipments fell more than 4 percent, breaking the recovery trend that had continued since mid-2023. In this environment, Qualcomm is seeking to reduce its reliance on smartphones while broadening its growth axis to data centres and on-device AI.

Key points to watch include the details of the data centre chip business and the hyperscaler customer to be disclosed at the June investor day. Attention is also on whether China inventory adjustments will actually conclude and allow smartphone-related revenue to rebound. Qualcomm issued weak short-term guidance, but drew market attention again by presenting plans to expand into both AI infrastructure and device AI.