Description

Qualcomm Data Center Custom Silicon Is Promising But The Ramp Is Distant!

Qualcomm Incorporated reported second quarter fiscal 2026 revenues of $10.6 billion and non-GAAP earnings per share (EPS) of $2.65, aligning with the high end of their guidance. The company’s Qualcomm CDMA Technologies (QCT) segment contributed $9.1 billion, with automotive revenues reaching record levels and growth in the Internet of Things (IoT) sector. The licensing business (QTL) generated $1.4 billion in revenues. Qualcomm highlighted significant developments in agentic AI workloads, describing an upgrade opportunity across their product portfolio, which spans smartphones, PCs, automotive platforms, and data centers. The firm emphasized their leadership in CPU performance and connectivity technologies as competitive advantages in delivering these next-generation AI experiences. Key growth areas include automotive, where QCT revenues exceeded $5 billion in annualized terms for the first time, driven by the Snapdragon Digital Chassis platform and expansion in advanced driver assistance systems (ADAS) and automated driving.