HUMAIN CEO Tarek Amin (left) and Qualcomm CEO Cristiano Amon. (Photo courtesy of Qualcomm)
Shares of Qualcomm rose over 20% on Monday following introduction of a new artificial intelligence product for large data centers.
The stock briefly reached $205.95 per share, up 21.9% from the opening price on NASDAQ, then settled to around $190, still well over 10% higher.
The San Diego-based wireless pioneer introduced its AI200 and AI250 chip-based accelerator cards and racks offering “superior memory capacity for fast generative AI inference” in data centers.
The company said the new technology will allow its customers to deploy generative AI in a cost-effective way while maintaining flexibility and security.
At the same time, CEO Cristiano Amon announced an agreement to deploy the new technology for HUMAIN, a Saudi Arabian AI company.
HUMAIN is planning to build 200 megawatts of data center capacity using Qualcomm’s AI200 and AI250 rack solutions to deliver high-performance AI inference services in the Kingdom of Saudi Arabia and globally.
“With Qualcomm’s world-class AI infrastructure solutions, we’re shaping the foundation of the kingdom’s AI future,” said CEO Tareq Amin. “This collaboration unites HUMAIN’s deep regional insight and unique full AI stack capabilities with Qualcomm’s unmatched semiconductor technology and product leadership.”
Qualcomm’s Amon said the new AI data centers powered by Qualcomm chips will help the kingdom “create a technology ecosystem that will accelerate its AI ambitions of becoming a hub of intelligent computing.”
The company said the AI200 and AI250 chips are expected to be commercially available in 2026 and 2027.
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