What's Going On With Qualcomm Stock Wednesday?
Portfolio Pulse from Anusuya Lahiri
Qualcomm Inc (QCOM) stock is trading higher after the company collaborated with Meta Platforms Inc (META) to optimize the execution of Meta's Llama 2 large language models directly on-device, bypassing the sole use of cloud services. This allows developers to save on cloud costs and provide users with private, more reliable, personalized experiences. Qualcomm Technologies plans to make Llama 2-based AI implementation available on devices powered by Snapdragon from 2024 onwards. Microsoft Corp (MSFT) also disclosed expanding Meta AI partnership with Llama 2 on Azure and Windows.
July 19, 2023 | 12:36 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Meta's collaboration with Qualcomm to optimize Llama 2 AI models on-device could potentially increase its revenues and boost its stock price.
The collaboration with Qualcomm allows Meta to optimize its Llama 2 AI models on-device, which could potentially increase its revenues and boost its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Microsoft's expanded partnership with Meta to implement Llama 2 on Azure and Windows could potentially increase its revenues and boost its stock price.
The expanded partnership with Meta allows Microsoft to implement Llama 2 on Azure and Windows, which could potentially increase its revenues and boost its stock price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Qualcomm's collaboration with Meta to optimize Llama 2 AI models on-device could boost its stock in the short term.
The collaboration with Meta allows Qualcomm to tap into the AI market, which could potentially increase its revenues and boost its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Nvidia's stock could potentially be impacted negatively in the short term due to Qualcomm and Meta's collaboration to run AI models on-device, bypassing the need for Nvidia's graphics processors.
Qualcomm and Meta's collaboration to run AI models on-device could potentially decrease the demand for Nvidia's graphics processors, which could negatively impact its stock price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60