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FinanceQualcomm CFO announces multiyear custom silicon deal with Amazon, including warrants
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At the Goldman Sachs Communacopia + Technology Conference 2026, Qualcomm CFO and COO Akash Palkhiwala discussed the company's diversification strategy beyond smartphones. He highlighted a significant announcement: a multiyear custom silicon agreement with Amazon, which includes warrants. Palkhiwala described Qualcomm's transformation into a diversified company with three main business legs: smartphones, auto, IoT, and data center. He referenced compelling targets set for the data center business at a recent Investor Day. The presentation was conducted in a Q&A format with Goldman Sachs analyst James Schneider, who noted the deal's potential size and product types, though specific financial details were not disclosed.
Source report
Date: September 8, 2026 | Time: 11:45 AM EDT
Company Participants
- Akash Palkhiwala – Executive Vice President, CFO & COO
Conference Call Participants
- James Schneider – Goldman Sachs Group, Inc., Research Division
Presentation
James Schneider Goldman Sachs Group, Inc., Research Division
Good morning, everybody. Welcome to the Goldman Sachs Communacopia and Technology Conference. My name is Jim Schneider, and I'm the semiconductor analyst here at Goldman. It's my pleasure to welcome you to our first session of the day. We're very happy to have Qualcomm, and CFO and COO Akash Palkhiwala, with us today.
Welcome, Akash.
Akash Palkhiwala Executive Vice President, CFO & COO
Thank you. Thank you for having me here.
Question-and-Answer Session
James Schneider
Akash, at the highest level, Qualcomm is working hard to diversify beyond smartphones over a number of years. I'd like to get your latest thoughts on the progress, starting with data center. You had a very exciting announcement this morning — a custom silicon agreement with Amazon, multiyear in nature, with some warrants attached. Could you unpack that for us and help us dimensionalize the opportunity in terms of size, type of products, and so on, to the extent you can?
Akash Palkhiwala
Sure. First of all, thank you for having me here. This is a very exciting deal for us.
As you rightly noted, the company is transforming. We used to be primarily a smartphone company. Looking forward, we are very much a highly diversified company with, I'd say, three legs of the stool: smartphones, auto, IoT, and data center. We set pretty compelling targets for our data center business a couple of months ago at our Investor Day.
Source
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