Qualcomm targets $50B data center revenue by 2027 FY, >$150B by 2029 FY, aiming for >5% market share. Dragonfly CPU/accelerator stack positioned as full-stack Nvidia alternative.

Qualcomm has set ambitious data center revenue targets, aiming for $50 billion in fiscal 2027 and exceeding $150 billion by fiscal 2029, according to statements from the company's chief financial officer. The targets reflect a significant expansion in the chipmaker's AI infrastructure business as it seeks to capitalize on growing demand for data center capacity.

The company is targeting over 5% market share in the data center sector, a substantial claim given Nvidia's current dominance. Qualcomm plans to compete through its Dragonfly CPU and accelerator stack, which the company positions as a full-stack alternative to Nvidia's offerings, potentially addressing customer demand for diversified suppliers in GPU-intensive infrastructure.

The aggressive growth trajectory signals Qualcomm's commitment to establishing itself as a meaningful player in AI chip design and deployment. If realized, these targets would represent a major shift in data center economics, offering an alternative path for cloud and AI infrastructure buildout beyond single-vendor dependency. The move reflects broader industry momentum to develop competitive AI accelerator platforms as capital-intensive AI buildout accelerates globally.