Qualcomm (NASDAQ: QCOM) is positioning itself as a newer entrant in the AI data center space, but analysts remain cautious about the pace of execution. At a recent analyst day, Qualcomm outlined targets of $5 billion in data center revenues across accelerators, CPUs, and related products within the next year. The company also projected $15 billion in data center revenues within a few years, figures that represent a significant strategic ambition for the chipmaker. Rasgon acknowledged the diversification story as real and meaningful, noting that auto, industrial, and now data center exposure are all helpful, but pointed out that handsets still represent approximately 70% of Qualcomm’s chipset revenue. Lopez highlighted that securing even a small portion of the rapidly growing data center market would be a positive outcome, but cautioned that winning data center design contracts is a time-consuming process.