What Does Qualcomm (QCOM) Gain From Sergio Buniac Leading Its AI Device Push?

Qualcomm (QCOM) has underperformed peers this year, down 7.1% YTD, while the iShares Semiconductor ETF rose 68%. Its P/E ratio is 18, lower than Broadcom and AMD, due to recent revenue declines. However, Qualcomm expects non-handset revenue to grow 60% in 2027, driven by AI, with a $40B target by 2029. A deal with Meta Platforms for AI chips could boost demand and validate its tech.

Qualcomm (QCOM) is in preliminary talks to acquire Tenstorrent, an AI chip startup, for $8B-$10B to expand its AI and data center semiconductor portfolio. QCOM shares rose 4.29% on Monday. Wells Fargo raised its price target to $230. Tenstorrent, led by Jim Keller, aims to optimize AI workloads. The deal reflects a broader trend of consolidation in AI hardware.

Qualcomm (QCOM) shares rose 15% after-hours on updated 2029 revenue targets, including $40B in non-handset revenue and $15B from AI data centers. It announced a deal with Meta (META) for AI-focused data center chips. QCOM also acquired Modular for $3.92B to boost AI infrastructure. Shares closed 3.29% lower in regular trading.

Qualcomm (QCOM) appointed Sergio Buniac as executive vice president and group general manager of Mobile, Compute and Personal AI. Buniac brings over 30 years of experience from Motorola. The role covers Qualcomm's mobile, computing, and personal AI product areas. The company has a market cap of about $171.7 billion. Investors will watch how this leadership change impacts smartphone, XR, PC, and wearables businesses starting September 2, 2026.

TSMC proposed a shared takeover of Intel's chip foundries with NVIDIA, Broadcom, and AMD, aiming for less than 50% ownership. Intel is divided on the deal, and TSMC seeks partners who are Intel's advanced-manufacturing customers. The companies face challenges due to differing processes and trade secrets. U.S. President Donald Trump encouraged TSMC to assist Intel, aiming to strengthen domestic production. Intel has struggled amid industry shifts, with TSMC investing $160 billion in U.S. data cen

Qualcomm, which acquired Modular for $3.1B, showcased Modular's AI software at ModCon 2026. Key announcements included open-sourcing the Mojo programming language, expanding platform support, and launching Modular Cloud, an AI inference service. Qualcomm aims to leverage Modular's software for its datacenter and edge AI chips, while maintaining openness to competing hardware.