Alphabet, the parent company for Google, recently disclosed a $548 million stake in its long-time partner Qualcomm, which is trying to build a data centre business while its smartphone chip sales slump.
Alphabet’s 13F filing with the US Securities and Exchange Commission on the 6th November shows it held 2,976,982 Qualcomm shares, valued at $547.9 million, at the end of Q3. Qualcomm did not appear in its filing for Q2.
The 13F only shows Alphabet’s holdings on the last day of Q3. It does not explain how or why Alphabet acquired the shares, or whether it has bought or sold any since.
Reuters reported the drop followed weak fiscal Q4 2026 results and a wider sell-off after the Democratic party’s wins in US elections on 3 November. Revenue from Handsets, which makes chips for smartphones, dropped 26% year-on-year to $5.1 billion.
The chipmaker expects its first revenue from custom data centre chips starting in the current quarter.
In the fiscal Q4 release, CEO Cristiano Amon reiterated a target of $5 billion in data centre revenue in fiscal 2027. The company is aiming for more than $15 billion by fiscal 2029.
Source: Mobile World Live
Image Credit: Qualcomm
Source: Tahawul Tech