This Sleeping Semiconductor Giant Will Be the Biggest Winner of the AI Inference Era (Hint: It's Not Intel) - The Globe and Mail

This article analyzes Qualcomm as a potentially major winner in the AI inference era, despite being overlooked compared to Intel. While Intel's stock surged 488% over the past year due to demand for i... Read original →

Qualcomm’s ascent stems from the structural shift of AI inference from centralized data centers to the edge. Its AI200/250 chips, built on 3nm EUV, redefine power-efficient compute distribution—forcing NVIDIA and Intel to accelerate edge strategies. ByteDance’s bulk custom orders signal Chinese tech’s pivot toward low-latency, tailored inference solutions, triggering tighter U.S. export controls and higher compliance overhead. With a $45B automotive design pipeline, Qualcomm pressures Intel, whose 904x P/E leaves little room for tactical pricing against Stellantis-style partnerships. Over the next 18 months, Qualcomm is positioned to dominate the geopolitically driven ‘decentralized AI’ paradigm through dual leverage in smartphones and intelligent vehicles.