The San Diego-based chipmaker is also in advanced talks with a potential hyperscaler customer as it begins to enter the data center market.

On Wednesday, Qualcomm, the world’s largest supplier of modem chips, shared an optimistic quarterly forecast, reporting a 10% year-on-year revenue increase for its fiscal third quarter with chip segment sales at $10.

Qualcomm was one of the major tech companies to report on its latest quarterly earnings, and Q3 FY25 was a squeaker, but Qualcomm ended up on top of its major metrics in revenue and earnings-per-share (EPS), making for a just slightly better-than-expected quarter for the chip design company.