The company is launching chip-based AI accelerator cards for AI inference and data center racks, and is counting Saudi Arabian AI firm Humain as its first customer.

Qualcomm Incorporated (NASDAQ:QCOM) is one of the most undervalued large cap stocks to buy right now. On October 27, HUMAIN, which is a PIF company, and Qualcomm announced a transformative collaboration to deploy advanced AI infrastructure in Saudi Arabia.

Qualcomm is evolving from a smartphone chipmaker to a comprehensive AI technology leader. The transition won’t happen overnight, but the strategy appears appealing and the timing is favorable.

Qualcomm had datacenter envy back when Intel ruled the bit barns of the world, and now it has it even worse now that Nvidia has shown how AI processing

QUALCOMM Incorporated (NASDAQ:QCOM) is one of the AI Stocks Analysts are Tracking Closely. On October 27, Rosenblatt reiterated a “Buy” rating on the stock with a $225.00 price target.

Qualcomm's new AI200/AI250 inference systems could offset Apple revenue loss and drive growth. Click here to read an analysis of QCOM stock now.

Amazon CEO Andy Jassy said earlier this year that the Washington-based company could shrink its workforce by embracing AI. The firm is part of a cohort of large-cap companies that have seen their AI-related productivity increase as the technology becomes mainstream.

Qualcomm announced new chips for AI data centers on Monday, in a move that could mean more competition for leading AI chipmakers such as Nvidia and AMD.