Qualcomm shares jump 11% as chip giant unveils new AI chips to rival Nvidia’s

Chip giant Qualcomm announced Monday that it will release two new artificial intelligence chips – setting the stage for a head-to-head race with billionaire Jensen Huang’s Nvidia. It’s a major shift for Qualcomm, which has long focused on manufacturing semiconductors for wireless activity and mobile phones – not for the power-hungry data centers that are powering the AI boom. Shares in Qualcomm jumped 11% Monday to close at $187.68.