Why his stock, along with Nvidia, should be boosted by the AI ​​boom

Nvidia (NVDA) isn’t the only company that has benefited from the AI ​​boom. Other chip companies are joining in the fun, Qualcomm (QCOM) SVP of Product Management Ziad Asghar told Yahoo Finance Live (video above).

“This generative AI opportunity is just great for Qualcomm,” said Asghar, who focuses on AI. “You have to understand that in this way we can transfer all these experiences to the devices that are in people’s hands.”

Nvidia is clearly the poster child among chipmakers when it comes to the AI ​​hype. (Nvidia’s stock is up 167% year-to-date.) Conversely, Qualcomm’s stock is down about 3%. Asghar said the market doesn’t think about Qualcomm the way it should: The company’s products will enable far broader adoption of AI-powered applications — and the stock price should reflect that.

“We can actually bring everything with us [AI] Experiences for the edge devices, for your PCs, for XR products, for smartphones and for IoT products,” he said. “This really is a great opportunity for Qualcomm and we believe we have a unique, differentiated technology that sets us apart from everyone else in this space.”

“A groundbreaking moment”

Asghar’s case is this: Qualcomm’s ability to run apps and experiences more efficiently on devices will drive the widespread adoption of AI.

“For us, it’s all about doing more processing with the least possible power,” he said. “We can do exactly that with AI, essentially on a device that isn’t connected to the mains – while some of our other competitors are running it with graphics engines that require hundreds of watts of power, we’re literally having the same experiences with milliwatts.” .” Perfomance.”

Ultimately, he said, the AI ​​boom is bigger than Nvidia or Qualcomm.

“I think this is a defining moment in our industry because it’s really changing the way we interact with our products and our devices,” Asghar said. “It’s not one of those things that follow the hype curve. This is actually an example of customers coming to us today and saying, ‘I want to run these use cases on the device.’”

The story goes on

Allie Garfinkle is Senior Tech Reporter at Yahoo Finance. Follow her on Twitter at @agarfinks and further LinkedIn.

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