Qualcomm jumps as AI sparks rebound in Chinese smartphone market
Thu, May 2, 2024 5:02 PM

Qualcomm jumps as AI sparks rebound in Chinese smartphone market

A Flip by Avya Verma
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Qualcomm shares rose 4% in premarket trading on Thursday after the smartphone-focused chipmaker signaled an AI-fueled rebound in demand, especially in China, after a two-year slump. Sales to Chinese smartphone makers jumped 40% in the first half of its fiscal year, the company said on Wednesday, as buyers there gravitate toward higher-priced devices that can accommodate AI chatbots.

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