WEBVTT - Qualcomm CEO Cristiano Amon Talks New Smartphone Chip

0:00:02.440 --> 0:00:06.800
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News.

0:00:07.040 --> 0:00:10.720
<v Speaker 2>We're joined by the quowdcom CEO, Cristiano Amon, who's live

0:00:11.119 --> 0:00:13.960
<v Speaker 2>in Maui from the Snapdragon Summit, and I keep think

0:00:14.040 --> 0:00:17.160
<v Speaker 2>chief among what you're talking about is Snapdragon eight Elite, right,

0:00:17.239 --> 0:00:20.880
<v Speaker 2>and the technology shift is to the in house design processor.

0:00:21.320 --> 0:00:23.439
<v Speaker 2>But the question for you, Christiano, is the same as

0:00:23.480 --> 0:00:25.720
<v Speaker 2>it's been for quite a long time, which is what

0:00:25.920 --> 0:00:30.120
<v Speaker 2>is fundamentally different through this processor in how we use

0:00:30.120 --> 0:00:34.600
<v Speaker 2>our smartphone the capabilities that an AI smartphone has.

0:00:35.840 --> 0:00:39.159
<v Speaker 3>Very good ed Hello from Maui. Good talking to you,

0:00:39.360 --> 0:00:43.040
<v Speaker 3>Like we're incredibly excited with the announcements were made yesterday

0:00:43.080 --> 0:00:45.360
<v Speaker 3>and we have more announcements today. This is our nine

0:00:45.479 --> 0:00:49.120
<v Speaker 3>edition of the Snapdragon Summing. And what's more exciting about

0:00:49.159 --> 0:00:52.400
<v Speaker 3>what we're doing with eight Elite is going to be

0:00:52.560 --> 0:00:56.040
<v Speaker 3>the snap the Snapdragon platform that does two things. With

0:00:56.200 --> 0:01:01.440
<v Speaker 3>our new custom Orion CBU, you restore the leadership position

0:01:01.640 --> 0:01:06.240
<v Speaker 3>in performance to the Android ecosystem. Smartphones powered by the

0:01:06.240 --> 0:01:09.160
<v Speaker 3>Elite are going to be the fastest smart smartphones in

0:01:09.160 --> 0:01:12.560
<v Speaker 3>the world, period. But that's that's only half the story.

0:01:12.640 --> 0:01:15.120
<v Speaker 3>The other part of the story it is the platform

0:01:15.200 --> 0:01:19.800
<v Speaker 3>that has incredible computing capabilities for AI, and we present

0:01:19.840 --> 0:01:23.200
<v Speaker 3>a vision of the future how the constructs that we

0:01:23.280 --> 0:01:26.319
<v Speaker 3>are used to in the smartphone of OSS and apps

0:01:26.400 --> 0:01:28.880
<v Speaker 3>and apps stores are going to fundamentally change as we

0:01:29.000 --> 0:01:32.480
<v Speaker 3>have agents that are going to do a lot of

0:01:32.480 --> 0:01:34.920
<v Speaker 3>the use cages. First, one of the most exciting things

0:01:34.959 --> 0:01:38.520
<v Speaker 3>for Qualking of genitive AI is that now computers can

0:01:38.600 --> 0:01:42.039
<v Speaker 3>speak the language of humans. And that's where we are behind.

0:01:42.120 --> 0:01:45.040
<v Speaker 3>There's a snap Dragon, there's a display, there's a human

0:01:45.560 --> 0:01:48.560
<v Speaker 3>and that transition is about to happen. So we build

0:01:48.560 --> 0:01:49.640
<v Speaker 3>the platform for that.

0:01:51.000 --> 0:01:55.000
<v Speaker 2>The forecast is Christiano see the smartphone market growing driven

0:01:55.040 --> 0:01:58.720
<v Speaker 2>by Android. And what surprised me about this generation processor

0:01:58.800 --> 0:02:01.520
<v Speaker 2>is you get them into handsets quite quickly. Have you

0:02:01.560 --> 0:02:05.000
<v Speaker 2>done the math on how you see that convert into

0:02:05.040 --> 0:02:08.520
<v Speaker 2>market growth? How quickly the AI smartphone is a top

0:02:08.560 --> 0:02:09.520
<v Speaker 2>line driver for you.

0:02:10.560 --> 0:02:13.360
<v Speaker 3>Look, that's the multi billion dollar question. So I'm going

0:02:13.440 --> 0:02:15.240
<v Speaker 3>to try to give you an answer. Even though it's

0:02:15.320 --> 0:02:18.720
<v Speaker 3>very hard to predict, I think it's very easy to

0:02:18.840 --> 0:02:21.360
<v Speaker 3>see and I have conviction in that. Well, think the

0:02:21.400 --> 0:02:25.280
<v Speaker 3>next five years we're probably going to have all of

0:02:25.360 --> 0:02:28.480
<v Speaker 3>us with an AI smartphone. The problem is you have

0:02:28.560 --> 0:02:30.480
<v Speaker 3>to wait for the new use cases to come up.

0:02:30.520 --> 0:02:33.720
<v Speaker 3>It reminds me of the transition from feature phones to smartphones.

0:02:34.320 --> 0:02:36.080
<v Speaker 3>In the beginning we talk about apps, So we have

0:02:36.120 --> 0:02:39.240
<v Speaker 3>ten apps and became hundreds of apps, then thousands of apps,

0:02:39.320 --> 0:02:41.920
<v Speaker 3>and we started to see that happening. Right now we

0:02:42.000 --> 0:02:45.760
<v Speaker 3>have like twenty AI different use cases, and maybe that's

0:02:45.760 --> 0:02:47.600
<v Speaker 3>going to become one hundred. So I think we are

0:02:47.639 --> 0:02:51.120
<v Speaker 3>on a trajectory to get to that point. Maybe five

0:02:51.200 --> 0:02:55.280
<v Speaker 3>years is where it's that transition will be concluded. And

0:02:55.360 --> 0:02:58.280
<v Speaker 3>hopefully what we all expect to see is the smartphone

0:02:58.320 --> 0:02:59.760
<v Speaker 3>market is going to grow and we're going to see

0:02:59.840 --> 0:03:00.600
<v Speaker 3>you great style.

0:03:01.040 --> 0:03:03.960
<v Speaker 1>When we talk about though the growth in that market, Christiano,

0:03:04.360 --> 0:03:07.120
<v Speaker 1>are we talking about new entrants into that space and

0:03:07.120 --> 0:03:09.639
<v Speaker 1>I'm talking on the customer side here, or is this

0:03:09.760 --> 0:03:12.760
<v Speaker 1>simply converting the existing customer base that's already out there.

0:03:14.639 --> 0:03:18.000
<v Speaker 3>You know. I think the typical answer that you're going

0:03:18.040 --> 0:03:21.560
<v Speaker 3>to provide to this question is you probably expect existing

0:03:21.560 --> 0:03:25.799
<v Speaker 3>players in the smartphone world to just build AI capable smartphones.

0:03:26.480 --> 0:03:29.000
<v Speaker 3>But it's really hard to predict every time we have

0:03:29.040 --> 0:03:31.799
<v Speaker 3>a change in the industry. I think the mobile industry

0:03:31.880 --> 0:03:35.080
<v Speaker 3>is one that every generation of wireless players did change,

0:03:35.480 --> 0:03:38.560
<v Speaker 3>so that could happen too. I think what we really

0:03:38.560 --> 0:03:42.240
<v Speaker 3>excited about it exactly not really the players, but how

0:03:42.280 --> 0:03:44.800
<v Speaker 3>the experience is going to change, how the devices are

0:03:44.800 --> 0:03:46.400
<v Speaker 3>going to change, and that's going to require a lot

0:03:46.400 --> 0:03:49.360
<v Speaker 3>of computing power for AI and that's what Qualcome's going

0:03:49.400 --> 0:03:52.920
<v Speaker 3>to do. Welcome's really been positioning itself to be the

0:03:52.960 --> 0:03:55.320
<v Speaker 3>company doing ANI at the edge and that's not only

0:03:55.400 --> 0:03:59.440
<v Speaker 3>phones as phones, as PC's, as cars, is smart glasses.

0:03:59.760 --> 0:04:02.000
<v Speaker 3>And I think that's the story of the company right now.

0:04:02.200 --> 0:04:04.840
<v Speaker 1>With regards to that story, and I'm almost asking this

0:04:04.920 --> 0:04:07.000
<v Speaker 1>question on behalf of investors, and I would like you

0:04:07.040 --> 0:04:10.200
<v Speaker 1>to answer it. For investors, to a certain extent, this

0:04:10.320 --> 0:04:13.120
<v Speaker 1>stock has been left behind and with regards to the

0:04:13.160 --> 0:04:16.360
<v Speaker 1>AI focus that this market has had all year long,

0:04:17.040 --> 0:04:20.440
<v Speaker 1>does these new chips and the new products that they

0:04:20.480 --> 0:04:23.440
<v Speaker 1>will go into, well that changed the narrative to the

0:04:23.520 --> 0:04:26.480
<v Speaker 1>upside for investors on both the top and the bottom line.

0:04:27.440 --> 0:04:30.840
<v Speaker 3>Look, I have a slightly different opinion if you look

0:04:30.880 --> 0:04:34.520
<v Speaker 3>where the evaluation the company is right now. We're starting

0:04:34.560 --> 0:04:36.920
<v Speaker 3>to get credit for the fact that we created new

0:04:37.000 --> 0:04:40.680
<v Speaker 3>growth markets for Welcome beyond hnsins. You know the stock

0:04:41.160 --> 0:04:44.599
<v Speaker 3>had a lower multiple in the past because most of

0:04:44.640 --> 0:04:47.080
<v Speaker 3>our revenue, and there's to a number one business is

0:04:47.160 --> 0:04:49.279
<v Speaker 3>mobile and mobile was not growing. But what we have

0:04:49.400 --> 0:04:51.920
<v Speaker 3>done is something different. We realize there are new end

0:04:51.960 --> 0:04:55.599
<v Speaker 3>markets for technology and we build an automotive position. I

0:04:55.600 --> 0:04:58.320
<v Speaker 3>think the snapdrag and digital CHASHI now is the key

0:04:58.360 --> 0:05:00.560
<v Speaker 3>asset for the industry and automo. If we have a

0:05:00.600 --> 0:05:05.520
<v Speaker 3>forty five billion dollar contracted pipeline, one third of that

0:05:05.680 --> 0:05:08.600
<v Speaker 3>is ADAS in autonomy. We enter the PC space and

0:05:08.680 --> 0:05:13.320
<v Speaker 3>the transition of PC to Microsoft biler plus AIS and

0:05:13.360 --> 0:05:15.560
<v Speaker 3>we're going to start building industrial So I actually we

0:05:15.720 --> 0:05:18.640
<v Speaker 3>have been building new business for welcome and that has

0:05:18.680 --> 0:05:21.280
<v Speaker 3>had a positive impact on our multiple. With that, this

0:05:21.480 --> 0:05:24.360
<v Speaker 3>AI transitions about what happened from the data center to

0:05:24.560 --> 0:05:26.960
<v Speaker 3>the edge, and which is preparing yourself for that.

0:05:28.040 --> 0:05:31.040
<v Speaker 2>In the smartphone context, what's happening in China is so interesting.

0:05:31.560 --> 0:05:34.840
<v Speaker 2>Let's compare with Apple right in the iPhone sixteen. They're

0:05:34.880 --> 0:05:38.960
<v Speaker 2>being rewarded in that market on Apple intelligence features that

0:05:39.040 --> 0:05:42.000
<v Speaker 2>aren't yet out in China and won't be for some time.

0:05:42.360 --> 0:05:44.440
<v Speaker 2>So when you think about snap Dragon eight Elite and

0:05:44.480 --> 0:05:47.680
<v Speaker 2>your kind of first mover advantage, do you feel you

0:05:47.760 --> 0:05:50.440
<v Speaker 2>have a first mover advantage in China when it comes

0:05:50.440 --> 0:05:51.800
<v Speaker 2>to the AI smartphone.

0:05:52.360 --> 0:05:54.559
<v Speaker 3>So let me talk about our smartphone business in China.

0:05:54.839 --> 0:05:59.200
<v Speaker 3>We have been powering the premium devices of all the

0:05:59.279 --> 0:06:06.040
<v Speaker 3>Chinese brands, companies like Honor, One Plus, Opo, Vivo, show Me,

0:06:06.720 --> 0:06:09.240
<v Speaker 3>and what we have seen the China Internet is a

0:06:09.240 --> 0:06:13.320
<v Speaker 3>different ecosystem. All of those companies has been creating AI

0:06:13.480 --> 0:06:16.120
<v Speaker 3>use cases and what we see in China that we like.

0:06:16.440 --> 0:06:20.320
<v Speaker 3>The market has stabilized it, but we see consumers moving up.

0:06:20.800 --> 0:06:24.160
<v Speaker 3>So while the market doesn't grow as much, what is

0:06:24.200 --> 0:06:27.719
<v Speaker 3>really growing is the premium tier. Consumers want to buy

0:06:27.720 --> 0:06:30.360
<v Speaker 3>a better device and what we have seen this over here.

0:06:30.440 --> 0:06:35.040
<v Speaker 3>So we're actually happy with our position in China, and

0:06:35.080 --> 0:06:38.320
<v Speaker 3>as we go into other markets, we see our partnerships

0:06:38.320 --> 0:06:41.040
<v Speaker 3>in China increasing. One of the examples, we're now partnering

0:06:41.080 --> 0:06:45.640
<v Speaker 3>with every single Chinese EV company as well for automotive.

0:06:46.640 --> 0:06:49.680
<v Speaker 2>Because you're dedicating a day to those new chips and automotive.

0:06:49.760 --> 0:06:52.280
<v Speaker 2>One of the questions from our audience is whether that's

0:06:52.320 --> 0:06:55.400
<v Speaker 2>now becoming an isolated business where if there's a kind

0:06:55.440 --> 0:06:59.159
<v Speaker 2>of flywheel effect through the diversification efforts that you kind

0:06:59.160 --> 0:07:00.240
<v Speaker 2>of were helming.

0:07:01.240 --> 0:07:05.359
<v Speaker 3>So thank you. Pretty question. Right now, on stage, we're

0:07:05.400 --> 0:07:10.000
<v Speaker 3>announcing the most powerful process that we've ever done in

0:07:10.040 --> 0:07:12.480
<v Speaker 3>the history of our company, which is our new platform

0:07:12.480 --> 0:07:17.760
<v Speaker 3>for automotive. We're announcing two chips is Snapdragon Elite Cockpit

0:07:18.040 --> 0:07:21.560
<v Speaker 3>and Snapdragon Elite Ride, and that has been designed for

0:07:21.640 --> 0:07:24.800
<v Speaker 3>what we believe is going to happen with software defined vehicles.

0:07:25.080 --> 0:07:27.360
<v Speaker 3>Cars are going to get better over time. Is feature

0:07:27.440 --> 0:07:31.880
<v Speaker 3>proving the AI capabilities for GENI use cases when you're

0:07:31.880 --> 0:07:35.000
<v Speaker 3>behind the wheel, Just as an example, is a twelve

0:07:35.480 --> 0:07:39.320
<v Speaker 3>x increase in performance versus the prior automotive chip that

0:07:39.400 --> 0:07:42.880
<v Speaker 3>we have. It's an order magnitude increase. And I think

0:07:42.920 --> 0:07:45.560
<v Speaker 3>the way we look into this is we build a

0:07:45.600 --> 0:07:49.720
<v Speaker 3>strong automotive business by being the digital platform of choice

0:07:49.760 --> 0:07:52.720
<v Speaker 3>for all the car makers. Now we wanted to future

0:07:52.880 --> 0:07:56.840
<v Speaker 3>prove that platform for the future JENI use cases running

0:07:56.880 --> 0:07:58.480
<v Speaker 3>on cars at the edge.

0:07:59.200 --> 0:08:01.400
<v Speaker 1>I've got to ask you the tough question here, Cristiano,

0:08:01.480 --> 0:08:04.640
<v Speaker 1>and that's really about your ambitions to grow this company

0:08:04.680 --> 0:08:07.520
<v Speaker 1>and expand it through acquisition. Of course, you've seen the

0:08:07.520 --> 0:08:11.400
<v Speaker 1>media reports about your interests, your presumed interests in Intel.

0:08:11.880 --> 0:08:15.480
<v Speaker 1>Do you have any intent on pursuing that deal anytime

0:08:15.520 --> 0:08:15.960
<v Speaker 1>this year.

0:08:17.600 --> 0:08:20.240
<v Speaker 3>I'm lately I'm getting this question all the time. Look,

0:08:20.280 --> 0:08:22.080
<v Speaker 3>we don't comment on rumors, but let me tell you

0:08:22.160 --> 0:08:25.800
<v Speaker 3>what we're actually busy doing. What we're busy doing is

0:08:25.840 --> 0:08:29.440
<v Speaker 3>we have a unique opportunity for Qualcom for the PC space.

0:08:29.920 --> 0:08:33.559
<v Speaker 3>We saw the entry point driven by two transitions. One

0:08:33.600 --> 0:08:37.840
<v Speaker 3>transition is mobile PC conversions. The other one is PC

0:08:37.920 --> 0:08:40.680
<v Speaker 3>becoming an AI platform with the Microsoft launge of fot

0:08:40.720 --> 0:08:44.959
<v Speaker 3>Pilot plucks. So what we did We build the fastest

0:08:45.160 --> 0:08:48.319
<v Speaker 3>process or platform, which is actually leads and right now

0:08:48.400 --> 0:08:52.719
<v Speaker 3>it is still the fast performing processor. Both the incumbency

0:08:52.720 --> 0:08:56.960
<v Speaker 3>in the PC based on our announcement creating new products

0:08:56.960 --> 0:08:59.360
<v Speaker 3>and accelerated the new products compete with us and that

0:08:59.520 --> 0:09:03.400
<v Speaker 3>wasn't anough. So we see now an incredible opportunity for

0:09:03.480 --> 0:09:07.640
<v Speaker 3>us in the PC, and especially as PC makers have

0:09:07.800 --> 0:09:10.120
<v Speaker 3>questions about the future, they look at WelCom as a

0:09:10.120 --> 0:09:10.640
<v Speaker 3>great player.

0:09:11.400 --> 0:09:13.960
<v Speaker 2>Christiana, the interest on the whole Intel story was because

0:09:13.960 --> 0:09:17.120
<v Speaker 2>you made progress on your own on based processes, cloud

0:09:17.120 --> 0:09:20.720
<v Speaker 2>con processes. So YX eighty six, just give yourself a

0:09:20.760 --> 0:09:23.480
<v Speaker 2>score out of ten on how you did on AIPC

0:09:23.679 --> 0:09:24.040
<v Speaker 2>so far.

0:09:24.920 --> 0:09:28.600
<v Speaker 3>Look given the amount of skepticism that we got about

0:09:28.600 --> 0:09:31.440
<v Speaker 3>people telling we will not succeed in PCs and would

0:09:31.440 --> 0:09:33.679
<v Speaker 3>not be able to compete, I'll give us a very

0:09:33.800 --> 0:09:38.280
<v Speaker 3>high grade. And the platform design traction is awesome. We

0:09:38.360 --> 0:09:45.000
<v Speaker 3>launched twenty two different laptops across all bands, Dell, HP, Lenovo, Asus, Aser, Chansung,

0:09:45.320 --> 0:09:49.319
<v Speaker 3>and we continue to see design traction, especially as Microsoft

0:09:49.400 --> 0:09:52.800
<v Speaker 3>prepares a transition for Windows to an AI. And one

0:09:52.840 --> 0:09:55.880
<v Speaker 3>thing that we were tasked by Microsoft to do and

0:09:55.920 --> 0:09:59.920
<v Speaker 3>we did it, we restore the performance leadership of computing

0:10:00.280 --> 0:10:03.640
<v Speaker 3>back to the Windows ecosystem. That's a great testimony of

0:10:03.760 --> 0:10:06.840
<v Speaker 3>I think they qualcom engineering capability. In our focus and

0:10:06.880 --> 0:10:07.760
<v Speaker 3>growing this business.

0:10:07.760 --> 0:10:10.320
<v Speaker 1>There would certainly be a compliment though, to getting at

0:10:10.400 --> 0:10:14.120
<v Speaker 1>least some part of Intel's business, whether it's the programmable

0:10:14.200 --> 0:10:16.840
<v Speaker 1>chip division, which we already know that Intel has plans

0:10:16.880 --> 0:10:19.720
<v Speaker 1>to try to spin off, and other aspects of that

0:10:19.840 --> 0:10:23.760
<v Speaker 1>as well. Do you see a compliment there at all?

0:10:23.880 --> 0:10:27.160
<v Speaker 3>Look, it's important to understand the POCOM strategy, and we

0:10:27.240 --> 0:10:30.480
<v Speaker 3>have been very clear about that. Our strategy is very simple.

0:10:31.040 --> 0:10:35.599
<v Speaker 3>We define our company. We have three assets everything wireless connectivity,

0:10:35.640 --> 0:10:37.960
<v Speaker 3>and we take pride in being the number one in

0:10:38.080 --> 0:10:42.120
<v Speaker 3>cellular and Wi Fi on everything wireless, high performance, low

0:10:42.120 --> 0:10:45.400
<v Speaker 3>power compute, and artificial intelligence for the edge. And what

0:10:45.480 --> 0:10:48.920
<v Speaker 3>we did we applied those street technologies to all markets

0:10:48.960 --> 0:10:52.040
<v Speaker 3>that are growing and we could leverage our technology for phones.

0:10:52.080 --> 0:10:55.160
<v Speaker 3>So we went from phones to cars to the PCs

0:10:55.559 --> 0:10:58.680
<v Speaker 3>and now industrial and that has been part of a

0:10:58.720 --> 0:11:01.640
<v Speaker 3>strategy we did all or organically. With some of the

0:11:01.679 --> 0:11:05.640
<v Speaker 3>small acquisitions. We feel we have a very competitive roadmap

0:11:05.960 --> 0:11:08.800
<v Speaker 3>and we're thinking about the new what is the new

0:11:08.920 --> 0:11:11.600
<v Speaker 3>innovation that is coming for those markets, and that's where

0:11:11.600 --> 0:11:14.080
<v Speaker 3>we're driving. I will remain focused on.

0:11:14.000 --> 0:11:18.760
<v Speaker 2>That, Christiano. The crowdcome of today is very different to

0:11:18.800 --> 0:11:20.800
<v Speaker 2>the one that that I first met six years ago.

0:11:21.360 --> 0:11:23.680
<v Speaker 2>When I speak to investors and analysts, they do worry

0:11:23.720 --> 0:11:27.120
<v Speaker 2>about kind of billions of dollars of lost revenue, particularly

0:11:27.160 --> 0:11:30.120
<v Speaker 2>with key customer Apple and Modem. But the question I

0:11:30.160 --> 0:11:31.840
<v Speaker 2>get a lot for you is whether these kind of

0:11:31.840 --> 0:11:35.520
<v Speaker 2>newer business lines snap Dragon eight ely the automotive side

0:11:35.920 --> 0:11:39.520
<v Speaker 2>account for make up for some of that lost legacy

0:11:39.559 --> 0:11:41.920
<v Speaker 2>business going forward from twenty twenty five.

0:11:42.920 --> 0:11:46.280
<v Speaker 3>Look, I love answering this question because you know that

0:11:46.440 --> 0:11:49.440
<v Speaker 3>has been the story of Qualcom, of the best evy

0:11:49.480 --> 0:11:52.040
<v Speaker 3>investors saying, look, you have a you have the best

0:11:52.080 --> 0:11:55.000
<v Speaker 3>modems in the world, you have a very strong position

0:11:55.520 --> 0:11:58.080
<v Speaker 3>with Apple, but you know they're eventually going to do

0:11:58.080 --> 0:11:59.679
<v Speaker 3>their own mode. I'm going to lose this business. So

0:11:59.720 --> 0:12:02.920
<v Speaker 3>we took a completely different approach when I became COEO.

0:12:02.960 --> 0:12:05.040
<v Speaker 3>I had an investor day in twenty twenty one and

0:12:05.080 --> 0:12:07.679
<v Speaker 3>we said that they're going to be that revenue is

0:12:07.679 --> 0:12:09.839
<v Speaker 3>going to be removed from the model, and we are

0:12:09.880 --> 0:12:12.720
<v Speaker 3>going to be creating new growth markets for Qualcom and

0:12:12.760 --> 0:12:16.320
<v Speaker 3>we have a much bigger SAM opportunity than we have

0:12:16.440 --> 0:12:20.400
<v Speaker 3>with mobile. We're just executing on this and the results

0:12:20.440 --> 0:12:24.280
<v Speaker 3>are showing. Look, forty five billion dollars of contracted pipeline

0:12:24.280 --> 0:12:27.040
<v Speaker 3>and automotive. It's not a small number, and you have

0:12:27.160 --> 0:12:30.720
<v Speaker 3>seen in our earnings results automotive has been record quarter

0:12:30.800 --> 0:12:33.400
<v Speaker 3>over quarter. Because we're gaining share. That's the reason we

0:12:33.440 --> 0:12:35.480
<v Speaker 3>are getting to the BC. That's the reason we're getting

0:12:35.480 --> 0:12:37.280
<v Speaker 3>to the industrial because at the end of the day,

0:12:37.559 --> 0:12:40.120
<v Speaker 3>it's not only about this one customer revenue, whether we

0:12:40.160 --> 0:12:42.400
<v Speaker 3>have it or we don't have it. Exactly, can we

0:12:42.480 --> 0:12:45.840
<v Speaker 3>operate in growth markets and expand the company's SAM and

0:12:45.880 --> 0:12:46.640
<v Speaker 3>that's what we're doing.

0:12:46.679 --> 0:12:49.079
<v Speaker 1>And this is exactly what we've heard from investors, exactly

0:12:49.080 --> 0:12:51.599
<v Speaker 1>what we've heard from analysts. They want to see that diversification.

0:12:51.840 --> 0:12:53.800
<v Speaker 1>And just to be fair, Christiano, they've given you a

0:12:53.840 --> 0:12:55.920
<v Speaker 1>lot of pats on the back so far. There's still

0:12:55.920 --> 0:12:57.520
<v Speaker 1>a long way to go. And I do want to

0:12:57.520 --> 0:13:00.840
<v Speaker 1>circle as we end this conversation back to the automotive space,

0:13:00.880 --> 0:13:02.880
<v Speaker 1>because we've been focusing a lot of that today on

0:13:02.920 --> 0:13:06.319
<v Speaker 1>this show, and there are concerns here that we sort

0:13:06.360 --> 0:13:08.120
<v Speaker 1>of reached some sort of bump in the road with

0:13:08.240 --> 0:13:11.520
<v Speaker 1>the adoption of new vehicles, whether it's evs or autonomous

0:13:11.600 --> 0:13:14.319
<v Speaker 1>vehicles or really just vehicles that are much more sort

0:13:14.360 --> 0:13:18.640
<v Speaker 1>of technologically inclined. Where do you fit into that space

0:13:19.040 --> 0:13:21.320
<v Speaker 1>longer term? Is that going to be a bigger market

0:13:21.320 --> 0:13:23.120
<v Speaker 1>and more importantly, is going to be a bigger market

0:13:23.160 --> 0:13:23.720
<v Speaker 1>for Qualcomm?

0:13:24.960 --> 0:13:29.680
<v Speaker 3>Very good. So, look, Romaine, one of the unique things

0:13:29.720 --> 0:13:32.880
<v Speaker 3>of our automotive business we are kind of immune to that.

0:13:33.120 --> 0:13:38.439
<v Speaker 3>We're not Our position is not dependent on electrification or

0:13:38.440 --> 0:13:42.840
<v Speaker 3>internet combustion. Our position is not really dependent off the

0:13:42.920 --> 0:13:46.760
<v Speaker 3>shifts that you have in the share across different companies

0:13:47.200 --> 0:13:50.480
<v Speaker 3>because what we have done, we saw that cars are

0:13:50.559 --> 0:13:56.440
<v Speaker 3>going to become digital digital computers on wheels. Car companies

0:13:56.480 --> 0:13:58.240
<v Speaker 3>are going to become tech companies, and we build the

0:13:58.320 --> 0:14:02.839
<v Speaker 3>platform for the car companies. And what happened is that

0:14:02.960 --> 0:14:06.480
<v Speaker 3>had resonated well. So we're designed across all brands, all

0:14:06.520 --> 0:14:10.520
<v Speaker 3>the Koreans, all the Japanese, the Europeans, the Americans, the Chinese.

0:14:10.880 --> 0:14:15.120
<v Speaker 3>Every single car company now is using some portion of

0:14:15.160 --> 0:14:17.680
<v Speaker 3>the snaptrag and digital cockpit. And what is happening with

0:14:17.760 --> 0:14:22.160
<v Speaker 3>our results results have been independent of the automotive market

0:14:22.160 --> 0:14:25.200
<v Speaker 3>and more about gaining share, and as the new cars

0:14:25.240 --> 0:14:27.880
<v Speaker 3>come out with our platforms, we're starting to see that

0:14:27.960 --> 0:14:30.680
<v Speaker 3>going to revenue. We made the projection of four billion

0:14:30.720 --> 0:14:33.680
<v Speaker 3>by twenty six and then nine billion by the end

0:14:33.680 --> 0:14:35.400
<v Speaker 3>of the decade, and we're tracking that.

0:14:36.000 --> 0:14:37.920
<v Speaker 1>All right, Christiana, we have to leave it there. We

0:14:38.040 --> 0:14:40.960
<v Speaker 1>always appreciate your time, of course, out there in Hawaii.

0:14:41.040 --> 0:14:44.600
<v Speaker 1>The CEO of Qualcom, Cristiano Amone, and are very special

0:14:44.600 --> 0:14:47.760
<v Speaker 1>thanks to the co host of Bloomberg Technology, Ed Ludlow,