Semiconductor giant QUALCOMM is preparing for a fundamental transformation of its business model.
• QUALCOMM plans massive expansion into robotics to reduce smartphone dependency
• “Physical AI” enables autonomous decisions directly on the device without the need for cloud
• Hope for revaluation of the stock as an AI platform in 2026
As QUALCOMM CEO Cristiano Amon made clear in an exclusive interview with CNBC on the sidelines of the Mobile World Congress in Barcelona, the robotics division is on the verge of a commercial breakthrough. The company boss predicts that this sector will achieve significant economic relevance for the company within the next two years, therefore technology is positioned as a key growth driver. The clear goal: to sustainably reduce the current dependence on the smartphone market. Robotics will increase massively in scale during this period, according to the top manager, which will make the segment a substantial financial opportunity.
When artificial intelligence learns to walk
The CEO’s optimism is based primarily on the leaps in artificial intelligence. Amon told CNBC that generative AI has fundamentally changed the way machines work. In the past, robots were largely dependent on rigid, pre-programmed processes. Today, modern chips enable “physical AI,” where machines can understand and respond to their environment in real time. Amon sees this as a huge market and in the interview referred to estimates that robotics could be a “trillion-dollar opportunity.” The decisive turning point is that robots have simply become more useful thanks to this new form of intelligence.
QUALCOMM shoots against the competition with “Dragonwing”.
In order to occupy this market, QUALCOMM has launched its own brand for specialized processors, “Dragonwing”. The chips in the new IQ series will power everything in the future – from assembly line robots in factories to human-like, humanoid systems. Amon deliberately sets itself apart from rivals like NVIDIA: While the competition primarily dominates computing in large data centers, QUALCOMM relies on the intelligence directly in the device. This focus on so-called inference allows robots to make complex decisions directly on site with very low power consumption, without having to rely on a cloud connection.
The breakout from the screen
For the future, the QUALCOMM boss foresees an era in which hardware will take center stage. Amon describes the current development as a moment when AI “steps off the screen” and begins to physically move around in the real world. The company’s goal is clearly defined: it wants to be the technical heart of this new generation of machines. The group expects rapid acceleration, particularly in industry and logistics, in order to meet the increasing demand for autonomous hardware.
QUALCOMM shares have some catching up to do
Whether the new robotics ambitions can also help the QUALCOMM share sustainably on its feet depends primarily on how quickly the company can actually reduce its dependence on the fluctuating smartphone market.
In recent years, the investment has hardly convinced investors: over a three-year period, the stock’s gain on the NASDAQ is a meager 16 percent. Since the start of the year alone, the stock has lost more than 23 percent of its value and most recently closed at $131.15 (closing price on March 12, 2026), well below the average price target of $162.29 noted on TipRanks.
This is due to structural problems and the difficult market environment. Perhaps the biggest weight on QUALCOMM investors’ feet has been years of uncertainty about its relationship with Apple. The technology group has been working on its own 5G modems for years to replace QUALCOMM, which has repeatedly caused uncertainty among investors.
In addition, QUALCOMM was labeled as a hardware cycle stock for a long time, while the “Magnificent Seven” (especially NVIDIA) went through the roof, investors did not perceive the company as an “AI stock” for a long time.
But if QUALCOMM boss Cristiano Amon manages to establish his company as a robotics and AI platform in 2026, the stock could end years of underperformance.
Editorial team finanzen.net
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