Qualcomm's Automotive AI and Stellantis Partnership (with Carol Masser, Tim Stenovec)

Introduces Qualcomm's partnership with Stellantis, noting Qualcomm shares are up 20% in the past three trading sessions.

Carol Masser

Nakul Duggal

Our automotive business is on a tear, exiting at $6 billion annualized revenue, up 8x over six years. The Stellantis partnership is one-of-a-kind, deploying our entire fleet of products across all their global platforms (outside China) starting in model year 28. This is a single, harmonized architecture that allows them to become a software company.

We've been building for the digital future of cars. The digital chassis allows an automaker to modernize connectivity, in-cabin experience, and driving experience.

Asks if Snapdragon technology will be included in every Stellantis vehicle after model year 28.

Tim Stenovec

Nakul Duggal

Yes, this will happen across the cockpit and telematics. AI in the car will transform the personal space, allowing conversational experiences with the car (shopping, appointments, entertainment). We will also power their self-driving stacks.

Snapdragon cockpits are now AI ready. The in-car experience will be no different than what you see on your smartphone.

Asks if the partnership is exclusive and about the financial opportunity for Qualcomm.

Carol Masser

Nakul Duggal

This is a dedicated partnership for the next generation. We are the dedicated supplier for all silicon, self-driving software, and connectivity. We are growing automotive at 25%+ and see it as a definition of what a physical AI product looks like.

We've been preparing for this. The deal is an indication the market is ready to scale up. Every automaker is waiting to figure out how to accelerate.

Asks for a realistic timeframe for drivers to be completely removed from the equation.

Tim Stenovec

Nakul Duggal

The driver completely removed is much further out because it's a safety product. But the car taking over for scenarios where the driver is not deeply engaged is upon us now. In the next two years, AI will enter the digital cabin and cars will become much more intelligent. By 2028, this will be deployed across multiple parts in the Western world.

The rate of AI acceleration in the last 12 months is dramatic. All the other pieces (silicon, standardized architectures) are in place. This deal is an indicator of how fast this is coming.

Asks how much more automotive revenue could be as a result of deals like this, given the current $1.33 billion quarterly run rate.

Carol Masser

Nakul Duggal

We've been preparing for this growth. The deal is an indication the market is ready to scale up. The car becoming a digital product will happen across the board. We see similar 25% growth trajectories continuing in the near future.

Nakul Duggal

Driver completely removed is much further out due to safety. But the car taking over for scenarios where the driver is not deeply engaged is upon us now. AI acceleration in the last 12 months is dramatic.

Carol Masser

Qualcomm clocked $1.33B in automotive segment revenue in Q2. How much more could deals like this contribute?

Nakul Duggal

This deal is an indication the market is ready to scale up. The car becoming a digital product will happen across the board. We see similar 25% growth trajectories continuing.

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