Qualcomm projects data center chips will eventually represent 30% of its revenue as smartphone sales decline roughly 20% compared to 2025. During its Q4 2026 earnings call, the company outlined partnerships with Amazon and Meta to enter the AI data center market. Qualcomm forecasts $650 million in data center revenue for Q1 2027, growing to $5 billion by the end of 2027 and $15 billion by 2029. The company's total 2026 revenue was $10.4 billion. AMD has set a higher target, expecting over 80% of its eventual revenue from data centers, suggesting substantial demand remains available in the AI infrastructure space.