So over the last few years, Qualcomm has been diversifying its business. So today, talk a little bit about what really drove the decision to pivot.
You look at phones, you look at PC, you look at industrial automotive. They needed wireless connectivity, they needed high-performance, low power processing, and now all of them need AI. And so we just found ourselves in this fortunate place where the set of technologies that we've been working on for the last 15 years for smartphones is directly applicable to all these new devices as those devices were transforming.
the core journey we've been on since Cristiano became CEO five years ago is how do the how do we take these technologies and apply it to new edge devices.
The next phase of our diversification is now we have this ability to take these technologies and apply to data center.
Entering the data center business has been something that Qualcomm has flirted with in the past. Now it seems different. But for anyone out there, kind of how are you earning that permission to win?
I think our permission to win is our broad technology portfolio. There's a few changes in data center. Power is becoming a problem statement. Second is, I think with agents coming in, having disaggregated computing, having different solutions is becoming important. And then the third is we have this incredible innovation that we've come up with high bandwidth compute HPC, which takes the strength of integrating memory and logic into one stack and creates this very, very high memory bandwidth solution that is also one of the problem statements in the existing data centers.
So Qualcomm still has its core business. You've entered over the last few years IoT, automotive, built many multi-billion dollar franchises now and of course, data center is the most recent. What comes after this?
The first one is robotics. We have a chance to play there and really honestly be the leader on that device. The next one is industrial AI, where there is clearly this opportunity of all these sensors out everywhere in the world. And then finally, personal AI. I think we have this belief that there's going to be a third device ecosystem that's going to be on your person, that's going to be a device that can see what you can see, can hear what you can hear, that you can have an agenc AI conversation with. And one of the balancing acts for Cristiano and me has been how do we chase this ambition, chase the opportunity in front of us, but do it in a financial responsible manner, and the way we achieve that is really through scalability of technology.
