Hello, and thank you for joining us. On behalf of the Board of Directors and the entire Qualcomm team, thank you to our stockholders for your confidence and ongoing support. At Qualcomm, we believe that long-term success requires constant reinvention. Staying ahead means anticipating change, investing early in new technologies, developing a leadership position, and executing with discipline. An approach that is foundational to our strategy. We're now a connected computing leader with one of the broadest technology portfolios in the industry, including leading IP across high-performance, low-power computing, advanced connectivity, and AI processing. Qualcomm is one of the only companies with solutions ranging from less than two milliwatts in consumer electronics to 2,000 watts in the next-generation data centers, making our technologies increasingly relevant to a broad set of industries.
Applying our core technology capabilities, we're executing on our diversification initiatives, successfully expanding beyond handsets to personal AI and smart wearables, PCs, automotive, edge networking, and industrial IoT. We're now extending this approach into advanced robotics, and the data center. In handsets, our Snapdragon platforms continue to set the pace of mobile innovation. Our flagship mobile platform, the Snapdragon 8 Elite Gen 5, features the fastest mobile CPU ever, alongside an enhanced NPU and GPU, together with the Snapdragon 8 Gen 5. This platform supports a range of premium smartphones, and we're seeing strong global adoption across OEM flagship designs. As smartphone experiences become increasingly AI-driven, on-device intelligence will be central to how users interact with their devices, where fast, efficient processing enables real-time responsiveness. We're confident that Snapdragon will be the leading platform for the upcoming transition to AI smartphones.
Personal AI, including smart glasses and other intelligent wearables such as watches, earbuds, pendants, and pins, is emerging as the next major mobile platform and represents an incredible long-term opportunity for Qualcomm. AI is reshaping the human-computer interface and agentic experiences are evolving as devices and systems gain the ability to see what we see, hear what we say and hear, understand what we read and write, and communicate with us in natural language. These capabilities are revolutionizing how people interact with technology and creating this new class of personal AI devices. These devices require high performance, extreme power efficiency, and continuous sensing in wearable form factors, aligning perfectly with Qualcomm's strengths. We're currently working with seven of the nine largest cloud companies globally, and Snapdragon is firmly established as the platform of choice, with more than 40 devices in production or development. Of these devices, smart glasses are likely to become the largest category.
We're pleased with our momentum in personal computing, where Snapdragon X Series continues to define the category of next-generation AI PCs. Our newest platforms for premium laptops, the Snapdragon X2 Elite and X2 Elite Extreme, outperform competitors in both speed and power efficiency. We are focused on delivering powerful on-device AI, always-on connectivity, and industry-leading performance per watt across a variety of categories, price points, and form factors. As a result, we continue to gain traction with global OEMs and expect approximately 150 Snapdragon-powered laptop designs to be commercialized through 2026. As AI agents become more deeply embedded into operating systems and applications, we believe that our performance and battery life differentiation will further increase over the competition.
In automotive, Qualcomm remains the industry-preferred technology partner with strong adoption of our Snapdragon Digital Chassis solutions across virtually all major OEMs for infotainment, connectivity, ADAS, and autonomy. Our Digital Cockpit platform is now deployed in 75 million cars globally, including top-selling vehicles from General Motors, Toyota, Mercedes, and others. An important milestone was the launch of Snapdragon Ride Pilot, our first full L2+ automated driving solution in our advanced self-driving software stack co-developed with BMW. Interest from global automakers has exceeded our expectations, and the success across our broader automotive portfolio is reflected in the growing number of partnerships and commitments we have with leading car makers, OEMs, and Tier-1s. As vehicles become more intelligent, our ability to deliver scalable edge-to-cloud intelligence will enable more customized in-vehicle experiences for next-generation software-defined vehicles.
In edge networking, we continue to see strong momentum driven by demand for Wi-Fi 7 gateway platforms across retail, enterprise, and carrier deployments, along with growing adoption of 5G fixed wireless access solutions. We believe the next phase of networking will be AI-native, where intelligence is built directly into the gateway, expanding the role of the network from connectivity to on-device inference and real-time decision-making. This evolution is already underway, with customers like Xiaomi launching an AI gateway based on the Qualcomm Dragonwing NPro A7 Platform. We're also investing in next-generation wireless technologies, including Wi-Fi 8, with consumer devices expected as early as summer 2026.
Across industrial and embedded IoT, we substantially expanded our offerings, and we're seeing customers deploy advanced edge computing and AI-capable products, systems, and services based on our industrial-grade Qualcomm Dragonwing platforms. Our solutions have been purpose-built to power a wide range of applications including inspection and automation, advanced computer vision, edge AI boxes, gateways, and more. We're pleased with our traction across a growing customer base and a variety of industries, from manufacturing and retail to energy, logistics, and others. Examples include Aetina, Aramco Digital, ASUS IoT, Dell, Deloitte, DigiWin, e&, EverFocus, Honeywell, HUMAIN, IBM, iBase, Lenovo, Palantir, and many others.
More recently, we formally announced our entry into the advanced robotics space, delivering a full suite of technologies including the Dragonwing IQ10 series for advanced AMRs to humanoids. Robotics is the embodiment of physical AI and underscores the importance of on-device AI processing, low-latency sensor fusion, extreme power efficiency, and long battery life. Our platforms are enabling new capabilities in robots today and are designed to simplify development and accelerate commercialization. Our leadership in automotive, where many of the same technical requirements apply, provides a strong foundation as robotics moves from early adoption towards broader deployment.
We also announced our entry into the data center, with a focus on building NPU-based AI inference accelerator cards and servers, as well as custom SoCs for general-purpose and AI head node compute solutions. As inferencing becomes the key driver of data center growth, specialized and power-efficient AI platforms will be essential. The Qualcomm AI accelerator cards and racks are purpose-built for inference workloads, leveraging an innovative memory architecture that provides more than ten times higher effective memory bandwidth with significantly lower power consumption. Additionally, we completed the acquisition of Alphawave Semi, a global leader in high-speed wire connectivity and compute technologies for data centers, data networking, and data storage. We are encouraged by early customer traction as we engage with leading hyperscalers, cloud service providers, sovereign AI projects, and other global partners.
Over the past 12 months, AI and generative AI have advanced at an unprecedented pace. Efficient AI inferencing is driving the next wave of growth in the data center. At the same time, AI inferencing and fine-tuning is happening increasingly on devices, smartphones, PCs, smart wearables, and cars. Industrial machines, robots, and connected infrastructure are all becoming more intelligent. Agentic AI assistants are also starting to get scale. These trends require a new architecture where intelligence is distributed seamlessly from the cloud to the edge. And this is where Qualcomm excels. We're well positioned for the next phase of AI, and expect to be a significant driver of this transformation.
We're also actively working on the development and industry transition to 6G, which is being designed as an AI-native system built on a combination of connectivity, wide-area sensing, and high-performance computing. 6G networks will be critical infrastructure for AI, and we believe this transition is as significant, if not more, as the transition from voice to data. These next-generation networks will feature new and advanced capabilities, including intelligent radios with integrated wide-area sensing capabilities, virtualized RAN based on high-performance and energy-efficient compute, AI-based network autonomy, as well as edge and centralized data centers for entirely new AI workloads. In addition to delivering higher levels of efficiency and performance for telecommunication applications, 6G will enable new agentic consumer and enterprise devices and new classes of AI-enabled services, including context-relevant data, low-altitude aerial and terrestrial traffic management, data insights and analytics at scale, and more.
Qualcomm has been at the forefront of wireless innovation since its founding and led every prior G transition. Working with ecosystem partners, we will bring our deep expertise and capabilities to the development and commercialization of 6G. Our device-to-data center expertise strongly positions us to be the partner of choice for 6G.
We're very proud of our performance, the strong execution of our growth and diversification strategy, and our continued ability to establish a technology leadership position in each industry we enter. As demand for our products and technologies continues to increase, our total addressable market is expected to reach $900 billion by 2030, and we remain on track to meet our fiscal 29 target for combined QCT Automotive and IoT revenues of $22 billion. While global demand is currently constrained by the availability and pricing of memory, particularly in handsets, the long-term opportunity and strategic positioning of Qualcomm remains unchanged. We're very excited about the opportunities ahead of us in our growth trajectory as we continue to diversify and expand our business. Thank you for your support and confidence in Qualcomm.
