Qualcomm shares rose 2.6% in front of the market, and is negotiating with ByteDance for cooperation on customized chips

According to Reuters, Qualcomm (QCOM. US) is negotiating with ByteDance to provide customized chip design services. The chips discussed by the two sides may cover video processors (VPUs) and plan to achieve mass production as early as the end of this year. The chips will use the high-speed connection technology of AlphaWave Semi acquired by Qualcomm. Qualcomm will hold its Investor Day on June 24th, and the market expects management to elaborate on its AI and data center strategies, as well as disclose its ASIC orders for large-scale customers, data center revenue targets (JPMorgan predicts $3 billion in fiscal year 2027 and $35 billion in fiscal year 2031), and Dragonfly AI inference accelerator roadmap.