Can Qualcomm Become a Big Name in Artificial Intelligence?
It is absolutely essential for Qualcomm (NASDAQ: QCOM) to quickly find ways to tap emerging technologies in light of the challenges that it is facing. The chipmaker's licensing business has been down in the dumps ever since Apple started questioning its royalty structure.
This has turned out to be a royal pain for Qualcomm, as its revenue in the recently reported third quarter fell 11% year over year, driven by a massive 42% drop in licensing revenue. What's even more alarming is that the chipmaker could lose more licensing revenue, so it needs to quickly diversify into more areas to get back on track.
Therefore, it wasn't surprising when Qualcomm announced the acquisition of artificial intelligence (AI) company Scyfer for an undisclosed amount last month. But will the chipmaker's latest acquisition help it stand out in a crowded space where rivals like NVIDIA (NASDAQ: NVDA) are already putting their AI expertise into real-world applications? Let's take a look.
Source: Fool.com
Qualcomm Inc. Stock
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