Amazon is taking a multibillion-dollar equity stake in Qualcomm as part of a sweeping AI chip agreement that could bring the chipmaker up to $60B in business.
Regulatory filings show Amazon received a warrant to buy roughly $4B of Qualcomm shares at $161.26 apiece, with the option vesting as Amazon purchases hardware under the collaboration. The deal, announced on September 8, spans multiple generations of custom silicon for AWS data centers, co-designed for AI inference, plus 1.6T optical interconnects built on Qualcomm’s SerDes and DSP technology.
For Qualcomm, the pact is its largest hyperscale win yet, following a custom AI chip deal with ByteDance, and a beachhead for the Dragonfly C1000 CPU and AI300 accelerator line it previewed in June. Amazon adds another lane to a hardware lineup that already includes in-house Trainium parts and Nvidia GPUs.
The agreement also sends work the other way. Qualcomm plans to run chip engineering through AWS services such as Bedrock to shorten its development cycles.
The warrant structure tightens the financial loop of the AI boom, as chipmakers and cloud giants increasingly buy stakes in one another while locking in multiyear capacity.
