Qualcomm rises by 6%. A AI chip deal with TikTok owner ByteDance appears to be finalized!

Qualcomm secures a significant large order from TikTok's parent company ByteDance for the delivery of specialized semiconductors for artificial intelligence. The Chinese technology company plans to purchase millions of application-specific integrated circuits, driven by a 25% increase in its in-house AI infrastructure budget to around $29.4 billion. The deal marks a strategic breakthrough for the chip company in the high-margin AI data center market and positions the firm as a serious player beyond the traditional smartphone business.  ...