This is coming from a guy who used to work at Qualcomm. Qualcomm's third attempt at data centers... apparently the first two weren't enough to teach us that data centers are harder than Investor Day slides.
https://www.cnbc.com/video/2026/11/04/qualcomms-data-center-business-barely-offsetting-losses-in-smartphones-seaports-jay-goldberg.html
Data center is a bad word these days, it’s a money su---r. Scrap it. Get cloud companies to adopt the tech, much better returns.
If Q doesn't diversify away from mobile, then it will truly be in trouble.
The success for data centers is just as much about technology as much as it is about the financial analysis and business negotiations of energy cost, cooling cost. The economy of scale happens when you build out very large data centers next to power source and in good weather conditions. Qualcomm tries to see everything thru the lenses of technology and that may not work always. It is a tough business, hire people from Amazon or Microsoft datacenters to do it, don’t do them with QC staff
Data center means trouble
3rd time will the charm.