Qualcomm is expanding its presence in the data center market with a new processor called the Dragonfly C1000. This chip is designed for AI agents and offers high performance at low power consumption. Meta plans to use the processor starting in 2028. Qualcomm is also acquiring AI startup Modular for $4 billion. The company’s revenue forecast for non-smartphone businesses has nearly doubled to $40 billion by 2029, with $15 billion targeted for data centers. Why it matters: This move by Qualcomm underscores the growing importance of AI in the data center market and the increasing demand for specialized processors to support these applications.