Qualcomm Incorporated (NASDAQ:QCOM) is entering a new phase of growth as two major catalysts—the expansion of its Samsung partnership and its push into AI infrastructure— begin reshaping the company's long-term outlook. Qualcomm Inc (QCOM)’s Dual Catalysts: Samsung Collaboration and Hyperscaler AI ContractsKārlis Dambrāns/FlickrAI Infrastructure Becomes Qualcomm's Next Growth EngineWhile smartphones remain Qualcomm's largest business, management is increasingly focused on reducing its dependence on the cyclical handset market by expanding into AI infrastructure. The company has been building relationships with hyperscale cloud providers as it develops custom AI ASICs, server CPUs, and AI inference accelerators. Qualcomm is attempting to establish itself as another major supplier, having announced AI infrastructure collaborations with Microsoft and Meta Platforms. The larger opportunity, however, lies in AI infrastructure.