Qualcomm CEO: Data center revenue to exceed $650M in December quarter

Qualcomm's data center disclosure matters less for the headline figure than for what it signals: a handset-centric chipmaker is building a second revenue leg while explicitly assuming flat-to-down handset shipments. The AWS tie-in and October custom accelerator shipments give the diversification claim its first real test, and the fiscal 2027 non-handset growth target is the number that will be scrutinized. Whether those accelerator shipments convert into a durable, repeatable data center franchise rather than a one-quarter beat is the open question.