Qualcomm lands Meta as a server CPU customer, acquires Modular for $3.92B, and targets $15B in data center revenue by 2029
At its June 24 Investor Day, Qualcomm signed Meta to a multi-generation server CPU agreement, unveiled the Dragonfly platform anchored by a 250-core Oryon C1000 CPU, and confirmed a $3.92B all-stock acquisition of Modular — whose Mojo language and MAX engine run AI workloads across heterogeneous silicon without code rewrites. Meta and a second unnamed hyperscaler are together committing over $1B annually, marking Qualcomm's first real foothold as an AI data center supplier against a $15B revenue target by fiscal 2029.
Source: datacenterknowledge.com ↗
Traditional infrastructure will not scale to the needs of agentic AI. The industry needs a paradigm shift.
Tony Pialis, Qualcomm EVP and GM of Data Center
Why this matters
- → Qualcomm secures first major hyperscaler CPU customer, validating AI data center chip strategy.
- → Meta deal plus unnamed hyperscaler commits $1B+ annually, accelerating Qualcomm's pivot from mobile.
- → Modular acquisition adds software layer to run AI across heterogeneous chips without code rewrites.
Qualcomm's data center bet