Qualcomm Soars After Taking Aim at Nvidia With New AI Chips

Qualcomm Inc. shares rose to their highest price in 15 months after the company unveiled chips and computers for the lucrative AI data center market, aiming to challenge Nvidia Corp. in the fastest-growing part of the industry.

The company’s new AI200 lineup will start shipping next year, Qualcomm said on Monday. The first customer will be Saudi Arabia’s AI startup Humain, which plans to deploy 200 megawatts’ worth of computing systems based on the chips starting in 2026.