Qualcomm launches Dragonfly C1000 processor for datacenter market, entering x86 competition.

Qualcomm is expanding its presence in the data center market with the Dragonfly C1000, a new processor optimized for AI agents and designed to deliver high performance at low-power consumption. Meta plans to deploy the processor beginning in 2028.

The company is also acquiring AI startup Modular for approximately $4 billion, according to Reuters. Modular develops software that enables AI applications to run across different chip architectures. This acquisition follows Qualcomm's unveiling last year of its first two AI accelerator chips for data centers.

Qualcomm's stock surged 15 percent in after-hours trading following the announcement that the company has nearly doubled its revenue forecast for non-smartphone businesses to $40 billion by 2029. Within the data center segment specifically, Qualcomm is targeting $15 billion in revenue.