Qualcomm stock jumps 9% on AI chip deal with Amazon, hits 2-month high
Shares of Qualcomm, the largest maker of smartphone processors, gained nearly 9% during trading on Tuesday, 8 September, reaching a day’s high of $183.49, their highest level in two months.
The rally came after the company announced that it had signed Amazon.com Inc as a data centre chip customer in a deal that will span “multiple generations” and gives Amazon the right to acquire up to $4 billion worth of Qualcomm shares.
