Qualcomm targets data centers with Dragonfly chips and Meta deal

Qualcomm unveiled a data center chip portfolio at its June 24 investor day, introducing the Dragonfly lineup as part of a broader push beyond its core smartphone business. The move positions the company more directly against Nvidia, whose dominance in data center chips has made it a central target for challengers seeking a foothold in AI and cloud infrastructure.

The company also announced a multi-generation CPU agreement with Meta, giving the effort a major customer as Qualcomm tries to diversify amid pressure in smartphones. The strategy includes courting demand in China, suggesting Qualcomm sees data center chips as a growth market across both global hyperscalers and regional buyers.