QUALCOMM Incorporated (NASDAQ:QCOM) ranks among the best 5G stocks to buy right now. On June 9, SLB announced an agreement with QUALCOMM Incorporated (NASDAQ:QCOM) to collaborate on cutting-edge AI solutions for energy industry operations. The collaboration brings together Qualcomm Technologies’ power-efficient edge computing and AI processing tools with SLB’s Agora edge AI and IoT services for remote energy scenarios.

Furthermore, Bloomberg reported on May 26 that QUALCOMM Incorporated (NASDAQ:QCOM) has landed an agreement to deliver AI chips to ByteDance. ByteDance plans to buy millions of Qualcomm’s application-specific integrated circuits to power the company’s AI agent software.

The agreement represents a major win for QUALCOMM Incorporated (NASDAQ:QCOM) as it seeks to move beyond phone processors towards AI infrastructure.

Cristiano Amon, the company’s CEO, previously stated that customers are starting to line up for the company’s chips. He referred to “engagement” with many businesses during a post-earnings conference call in April, though he did not name any potential clients.

QUALCOMM Incorporated (NASDAQ:QCOM) is a leading manufacturer and supplier of core technologies for the wireless sector, with a product line that includes processors that enable 5G. The company has benefited from the rise in smartphones since the early 2000s by focusing on the technology behind 3G and 4G networks.

While we acknowledge the potential of QCOM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

https://finance.yahoo.com/sectors/technology/articles/qualcomm-qcom-expands-ai-infrastructure-083048216.html?shem=rimspwouoe,