Qualcomm is betting big on data centers as smartphone sales sink

由于智能手机销量下滑，高通正将赌注押在数据中心业务上。

With smartphone sales tanking by around 20 percent compared to 2025, Qualcomm is looking to data centers to help boost its bottom line. During its Q4 2026 earnings call, the company laid out its plans to make a splash in the AI data center business, through partnerships with companies like Amazon and Meta announced earlier this year.

随着智能手机销量较 2025 年下滑约 20%，高通正寻求通过数据中心业务来提振利润。在 2026 年第四季度财报电话会议上，该公司阐述了其进军人工智能数据中心业务的计划，其中包括今年早些时候宣布的与亚马逊和 Meta 等公司的合作。

The company expects that portion of its business to grow quickly, forecasting around $650 million in data center revenue during the first quarter of 2027. But it anticipates that will reach $5 billion by the end of 2027 and $15 billion by 2029.

该公司预计这部分业务将快速增长，预测 2027 年第一季度的数据中心收入约为 6.5 亿美元。但预计到 2027 年底，这一数字将达到 50 亿美元，到 2029 年将达到 150 亿美元。

Considering the company’s total revenue for 2026 was $10.4 billion, that would constitute a significant share of its earnings. It confirmed during the call that it expects data centers to eventually account for around 30 percent of its business.

考虑到该公司 2026 年的总收入为 104 亿美元，这将构成其收益的重要组成部分。高通在电话会议中确认，预计数据中心业务最终将占其总业务的 30% 左右。

That’s not quite as ambitious as AMD, which says that it expects over 80 percent of its revenue will eventually come from data centers. But it suggests there’s plenty of demand that needs to be filled and enough AI money to go around.

这一目标虽然不如 AMD 那样宏大（AMD 预计其最终 80% 以上的收入将来自数据中心），但这表明市场存在大量需求缺口，且人工智能领域有足够的资金空间。