Qualcomm Partners with Saudi Arabia’s HUMAIN to Build AI Infrastructure Hub

Qualcomm Incorporated (NASDAQ:QCOM) is one of the most undervalued large cap stocks to buy right now. On October 27, HUMAIN, which is a PIF company, and Qualcomm announced a transformative collaboration to deploy advanced AI infrastructure in Saudi Arabia. The initiative aims to establish the Kingdom as a global hub for AI. The program will offer global AI inferencing services and is touted as the world’s first fully optimized edge-to-cloud hybrid AI solution.

HUMAIN is targeting the deployment of 200 megawatts of Qualcomm AI200 and AI250 rack solutions starting in 2026. This infrastructure is intended to deliver high-performance AI inference services both within the Kingdom of Saudi Arabia and globally for enterprises and government organizations to use AI at scale with industry-leading performance per Total Cost of Ownership.

Qualcomm Partners with Saudi Arabia's HUMAIN to Build AI Infrastructure Hub

This initiative will advance Saudi Arabia’s technology ecosystem by combining HUMAIN’s regional infrastructure and full AI stack expertise with Qualcomm Technologies’ leadership in AI and semiconductor innovation.

Qualcomm Incorporated (NASDAQ:QCOM) develops and commercializes foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies/QCT, Qualcomm Technology Licensing/QTL, and Qualcomm Strategic Initiatives/QSI.

While we acknowledge the potential of QCOM to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than QCOM and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.