The chipmaker's move is aimed at expanding into the data center market, where Nvidia has held a dominant position during the AI boom, according to a CNBC report.
Qualcomm's stock advanced following news of an infrastructure partnership with Amazon, as the chipmaker seeks to expand into the data center market long dominated by Nvidia.
Qualcomm has issued warrants allowing Amazon to acquire up to $4 billion in the chipmaker's stock, according to a report from CNBC, as the company seeks to expand into the data center market.
CNBC identified several companies making notable moves during Monday's midday session, though specific price changes and catalysts were not detailed in the report.