Qualcomm Inc is considering a return to the server market with a new chip!
In a new bid to decrease its reliance on smartphones, Bloomberg News reported.
Shares of Qualcomm rose nearly 3% last week.
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The chipmaker is seeking customers for a product stemming from its purchase of Nuvia Inc, the report said, adding that Amazon.com Inc’s cloud division, Amazon Web Services (AWS), has agreed to consider Qualcomm’s offerings.
the chipmaker acquired Nuvia, a chip startup founded by Apple Inc veterans, with plans to put the firm’s technology into its smartphone, laptop and automotive processors.
Qualcomm in July forecast fourth-quarter revenue below Wall Street targets, bracing for a difficult economy and a slowdown in smartphone demand that could hurt its mainstay handset chip business.