Qualcomm Incorporated (NASDAQ:QCOM) is one of the most undervalued large cap stocks to buy right now. On October 27, HUMAIN, which is a PIF company, and Qualcomm announced a transformative collaboration to deploy advanced AI infrastructure in Saudi Arabia.

The company is launching chip-based AI accelerator cards for AI inference and data center racks, and is counting Saudi Arabian AI firm Humain as its first customer.

Qualcomm Inc. kicked off its biggest stock rally since 2019 after unveiling chips and computers for the lucrative AI data center market, aiming to challenge Nvidia Corp. in the fastest-growing part of the industry.

QUALCOMM Incorporated (NASDAQ:QCOM) is one of the AI Stocks Analysts are Tracking Closely. On October 27, Rosenblatt reiterated a “Buy” rating on the stock with a $225.00 price target.

Qualcomm announced new chips for AI data centers on Monday, in a move that could mean more competition for leading AI chipmakers such as Nvidia and AMD.

Qualcomm had datacenter envy back when Intel ruled the bit barns of the world, and now it has it even worse now that Nvidia has shown how AI processing

Amazon CEO Andy Jassy said earlier this year that the Washington-based company could shrink its workforce by embracing AI. The firm is part of a cohort of large-cap companies that have seen their AI-related productivity increase as the technology becomes mainstream.

Qualcomm has been notably left out of the AI party. A deal with Saudi Arabia seems to have gotten the chip maker a foot in the door. Qualcomm’s share price surged 12% Monday after the company announce