Ricardo Pillai
3 min read
In This Article:
We came across a bullish thesis on QUALCOMM Incorporated (QCOM) on Investing Intel’s Substack. In this article, we will summarize the bulls’ thesis on QCOM. QUALCOMM Incorporated (QCOM)'s share was trading at $155.41 as of 9th June. QCOM’s trailing and forward P/E were 15.86 and 12.96 respectively according to Yahoo Finance
A close up of a circuit board, its microchips creating a powerful computing system.
Qualcomm’s $2.4 billion acquisition of UK-based Alphawave marks a strategic pivot into high-performance AI and data center infrastructure, reflecting the company’s intent to expand well beyond its legacy in smartphone chips.
The deal, which includes both cash and stock and carries a striking 96% premium to Alphawave’s share price as of March 31, signals Qualcomm’s confidence in the long-term value of AI infrastructure. Alphawave’s core technology—high-speed chip interconnects—enables faster data movement across AI systems, a capability crucial for supporting the computational demands of next-gen AI workloads. If successfully integrated, Alphawave could contribute high-margin IP revenue, helping Qualcomm diversify into enterprise silicon and improving overall business quality.
This move comes as AI infrastructure becomes one of the most competitive and lucrative battlegrounds in the semiconductor sector. For investors, this is less about immediate earnings and more about Qualcomm locking in a foundation for sustained relevance and growth in a rapidly evolving AI landscape.
Meanwhile, the construction industry—long resistant to automation—is undergoing its own AI-driven transformation. Dutch startup Monumental is using AI-powered bricklaying robots to tackle urban density challenges, while U.S.-based ICON leverages 3D printing to build homes and even lunar structures at unprecedented speed. Built Robotics is automating excavation and piling work for energy projects, and Australia’s FBR has piloted its rapid bricklaying robot in Florida.
These innovations point to a broader shift where automation addresses labor shortages, cost pressures, and space constraints. If scalable, the economic and societal benefits could be immense, especially in housing-constrained regions.
Previously, we covered a bullish thesis on Qualcomm from Christopher Kirincic on Substack, which emphasized its compelling valuation, steady licensing cash flow, and expanding presence in automotive and AI edge computing. In contrast, the Investing Intel thesis highlights Qualcomm’s strategic pivot into AI infrastructure through its Alphawave acquisition, signaling a longer-term bet on high-performance enterprise silicon beyond its mobile legacy. The stock has since then appreciated by roughly 2%.
