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Qualcomm Just Revealed Its Mystery Big Tech Customer—and Its Stock Is Soaring

Qualcomm has expanded its AI data center presence by unveiling the Dragonfly C1000 CPU. The company signed a multi-generation supply agreement with Meta Platforms and set a $15 billion target for AI data centers. Shares surged up to 15% following the announcement at Investor Day 2026.

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Qualcomm revealed Meta as its first major data center customer and introduced the Dragonfly C1000 CPU.

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  1. Qualcomm Names Meta First Major Customer for Dragonfly Data Center CPUs

    Qualcomm has expanded its AI data center presence by unveiling the Dragonfly C1000 CPU. The company signed a multi-generation supply agreement with Meta Platforms and set a $15 billion target for AI data centers. Shares surged up to 15% following the announcement at Investor Day 2026.

    What's confirmed:

    • Qualcomm unveiled the Dragonfly C1000 data center CPU at its June 24 investor day.
    • Meta Platforms is the first major customer for the Dragonfly C1000 CPU under a strategic multi-generation supply agreement.
    • Qualcomm set a $15 billion target for AI data centers.
    • Smartphone product revenue accounted for two-thirds of Qualcomm's revenue in its most recent quarter.
    • Mark Zuckerberg stated the new chips would help create "the infrastructure we need to deliver personal superintelligence to everyone."

    Still unconfirmed:

    • Microsoft Azure will use HBC chips starting in mid-2027.
    • Qualcomm lifted its 2029 non-handset revenue target to $40 billion.
    • Qualcomm is acquiring an AI software firm for $3.9 billion.
    confidence 90%