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International Business Times UK
International Business Times UK
Business
Martin Toledo

Qualcomm Shares Jump 20% on AI Chip Launch and $10.37bn Earnings, Challenging Nvidia

Qualcomm Nvidia AMD Donald Trump
Red and blue light streaks (Credit: Maxim Hopman/Unsplash)

Wall Street was caught off guard as Qualcomm shares surged 20% on Monday before closing 11% higher, sending shockwaves through Silicon Valley and intensifying pressure on rivals Nvidia and AMD.

The rally came after the US semiconductor giant announced its long-anticipated expansion into the data-centre market with a new line of artificial-intelligence chips and rack-scale servers.

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