On May 26, Qualcomm rose 3.08% in pre-market trading, trading at $245.31/share, with trading volume of approximately $24.42 million. The stock extended gains following its 11.6% surge on May 22, as the AI agent wave and CPU super cycle narrative continue to fuel momentum.

The rally builds on multiple catalysts from the prior week. Qualcomm confirmed it is re-entering the data center CPU market, with two major hyperscaler-backed projects: an AI ASIC designed for ByteDance targeting inference workloads, and an Arm-based server CPU with Meta as its primary customer. At the Morgan Stanley TMT conference, Qualcomm CFO Akash Palkhiwala outlined a three-pronged data center strategy encompassing custom CPUs, AI accelerators optimized for inference decoding, and hyperscaler partnerships, with initial shipments expected by the December quarter. Additionally, a chip supply agreement with Stellantis and reported collaboration with OpenAI on AI-powered edge devices reinforced the company's positioning as a core infrastructure player across cloud, edge, and automotive AI.

Morgan Stanley projects the server CPU total addressable market could reach $82.5-$110 billion by 2030, representing a 38% five-year CAGR driven by AI agent proliferation.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)