I have had Qualcomm $QCOM in my portfolio for some time, and yesterday's deal with Amazon $AMZN seems like a pretty important step to me.

Qualcomm agreed with AWS to develop custom AI chips for data centers, and the whole collaboration could be worth up to 60 billion dollars in the coming years. Amazon also gained the option to buy about 4 billion dollars worth of Qualcomm stock if the preset business milestones are met.

Qualcomm no longer wants to be seen mainly as a company dependent on smartphones. Apple is gradually switching to its own modems, the mobile market is not exactly the biggest growth story, and the company is therefore pushing cars, IoT, and now increasingly data centers and AI.

One part of investors, in my opinion, still sees Qualcomm mainly as a slower-growing mobile chip company. Another part is starting to see it as a cheaper way to get exposure to AI infrastructure, if the company manages to break through alongside Nvidia, Broadcom, or Marvell.

I have the stock in my portfolio and am rather holding for now. This deal certainly hasn't worsened the story for me, but I am still waiting to see if AI and data centers start to show up more significantly in the numbers.

Does anyone have Qualcomm in their portfolio? And how do you view this stock?