Founder Jeff Bezos remains the company's largest shareholder. His Amazon stake accounts for the bulk of his wealth.

Qualcomm CFO Akash Palkhiwala discusses the company's deal to create customized chips for Amazon Web Services' AI infrastructure. Speaking on "Bloomberg The Close," Palkhiwala also comments on Qualcomm's AI data center strategy and the future of smartphones.

Qualcomm's stock is getting a lift after the chipmaker announced a new partnership with Amazon.

Qualcomm (QCOM) establishing an AI collaboration with Amazon (AMZN) is something Futurum CEO Dan Newman sees as "very optimistic." The partnership is currently valued at $60 billion.

Qualcomm NASDAQ: QCOM CFO and COO Akash Palkhiwala said the company's newly announced multiyear agreement with Amazon represents a “landmark deal” for its expanding data-center business and supports its previously disclosed growth targets.

Amazon's expanded relationship with Qualcomm is reigniting debate over “circular financing” in the AI boom. Advisors Capital Management Partner and Portfolio Manager JoAnne Feeney discusses how the deal gives Amazon another source of custom chips and could reduce its reliance on Nvidia, while giving Qualcomm greater confidence to invest in capacity.

The complaint, filed by four former warehouse employees, claims Amazon routinely violates federal and New York worker-protection laws.

Qualcomm Inc. (QCOM) rose 6.02% intraday after announcing a multi-generation collaboration with Amazon.com Inc. (AMZN) on customized silicon for large-scale AI

Qualcomm (QCOM) shares were surging on Tuesday after the chipmaker announced a major deal. The stock surged as much as 10% in early trading, but gave up most of those gains to trade around 4% higher at the time of writing.

The class-action, led by four ex-warehouse workers, alleges that Amazon deducted their bank of unpaid time off or flagged them for “time off-task” for medically necessary breaks or absences.