Qualcomm planning return to server market with new chip

Author: Monitoring Desk

Qualcomm Inc is considering a return to the server market with a new chip in a bid to decrease its reliance on smartphones, Bloomberg News reported on Thursday, citing people familiar with its plan. Shares of Qualcomm rose nearly 3pc in afternoon trading. 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 take a look at Qualcomm’s offerings. Last year, 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. Amazon confirmed that it has agreed to take a look at the offering, while Qualcomm said it does not comment on rumours and directed Reuters to its press release when it closed the Nuvia deal in March last year. San Diego-based 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.

Share
Leave a Comment

Recent Posts

  • Pakistan

Bushra Bibi’s remarks stir controversy; PM vows action

Prime Minister Shehbaz Sharif on Friday, recounting Saudi Arabia's unconditional financial and diplomatic support to…

13 mins ago
  • Pakistan

Army chief vows to dismantle hostile terrorist networks

Chief of Army Staff (COAS) General Syed Asim Munir has pledged to sustain rigorous operations…

15 mins ago
  • Pakistan

PTI adamant on holding protest despite IHC order

PTI leaders on Friday remained adamant on going ahead with its planned power show on…

16 mins ago
  • Pakistan

Bajwa denies Saudi role in Imran’s ouster

Refuting Bushra Bibi's statement about Saudi government's role in the ouster of former premier Imran…

16 mins ago
  • Pakistan

Seven terrorists killed in KP, Balochistan operations

Pakistan's security forces killed seven terrorists in separate operations in Khyber-Pakhtunkhwa and Balochistan, the Inter-Services…

18 mins ago
  • Pakistan

No talks taking place with PTI, clarifies Kh Asif

Defence Minister Khawaja Asif has said that the government is not in contact with the…

19 mins ago