Qualcomm and Amazon Seal AI Chip Partnership

QUALCOMM INC signed a landmark partnership on Tuesday allowing AMAZON.COM INC to purchase up to $60 billion in AI data-center chips and associated products. The agreement includes warrants valued at $4 billion tied to product purchases, vesting at an exercise price of $161.26 per share. Following the announcement, Qualcomm shares rose over 3% in Tuesday trading.