The CEO of Qualcomm highlights the company’s potential for generative AI at the annual shareholder meeting. - Uncategorized
The CEO of Qualcomm highlights the company’s potential for generative AI at the annual shareholder meeting.
Loading...Cristiano Amon, the CEO of Qualcomm (QCOM), touted the chip giant’s AI initiatives on a virtual stage during his company’s annual shareholder meeting on Tuesday. Millions of Android-powered smartphones worldwide run Qualcomm’s processors, with the company’s most recent model, the Snapdragon 8 Gen 3, designed to power generative AI programs that run on the device.
In his prepared remarks, Amon stated, “We are bringing Gen AI capabilities to smartphone users worldwide.” “With our latest Snapdragon mobile platforms, which now feature significantly enhanced AI processing performance, we continue to be leaders in premium- and high-tier Android devices,” he continued.
Samsung’s most recent Galaxy S24 smartphone range includes the Snapdragon 8 Gen 3 processor, which supports some of the generative AI features on board. One such feature is Samsung’s Generative Edit, which lets you swiftly alter or eliminate things in your photos.
In the AI PC market, the company also intends to compete with Intel (INTC), AMD (AMD), and Nvidia (NVDA). The goal shared by all four semiconductor companies is to become the leading provider of generative AI on-device apps for laptops and desktop computers. High-end laptops from companies like HP, Dell, and others are already equipped with Intel’s Core Ultra CPUs, while Nvidia claims that machines running its graphics chips qualify as AI PCs.
In the upcoming months, Qualcomm will launch the Snapdragon X Elite CPU, but the company has already stated that the processor is faster than Intel’s AI workloads.
Amon stated, “The Snapdragon X Elite features industry-leading AI performance and significant improvements in performance and battery life. It is our first implementation of the custom Qualcomm Oryon CPU.” “It is ready to become the industry standard for Copilot and Gen AI on-device experiences.”
Most generative AI experiences—such as ChatGPT, Google’s Gemini platform, and Microsoft’s multiple Copilots—are still handled in the cloud. However, the theory holds that on-device processing will take precedence over other methods of interfacing with the technology as generative AI models grow more specialized for particular activities.
Additionally, chip companies claim that because you won’t be sending your data over the internet, on-device generative AI apps will be more secure. However, the common user doesn’t currently have many onboard generative AI apps available.
At a time when the markets for both smartphones and PCs are attempting to resume steady growth after a significant slowdown following a significant spike in sales in the early stages of the epidemic, generative AI is considered as a viable way to enhance sales of these devices.
Qualcomm’s stock hasn’t responded as dramatically to the generative AI boom, despite Nvidia and AMD’s shares benefiting greatly from it. Although the company’s share price has increased by 33% in the past year, it is still far short of AMD’s 107% and Nvidia’s astounding 226% gains. During the same period, Intel’s shares rose by 48%, outperforming those of Qualcomm.
Nevertheless, the market for generative AI on devices is still in its infancy, and given its reach, Qualcomm may find itself in a particularly advantageous position should apps start to gain traction.
