Qualcomm reportedly reentering server market with new chip; Amazon could be customer
Qualcomm (NASDAQ:QCOM) is looking to reenter the server market after having left it several years ago, thanks to its Nuvia acquisition, Bloomberg reported on Thursday.
The Cristiano Amon-led Qualcomm (QCOM) is looking for a number of customers for the new offering, including Amazon (NASDAQ:AMZN) Web Services, which has agreed to take a look at the products, the news outlet noted, citing people familiar with the plans. 
The San Diego-based Qualcomm (QCOM) purchased Nuvia in March 2021 for $1.4B and said at the time it expected to integrate Nuvia's products "across a wide portfolio of products," including smartphones, laptops, advanced driver assistance systems and infrastructure networking solutions.
Qualcomm (QCOM) exited the server market in 2018 after having mixed success with its own products.
San Diego-based Qualcomm (QCOM) shares rose more than 2% to $151.66 in mid-day trading.
A Qualcomm spokesman told Seeking Alpha the company does not comment or rumors or speculation.
Amazon (AMZN) currently uses chips from its AWS unit from Intel (INTC), Advanced Micro Devices (AMD) and Nvidia (NVDA), but has been working on its own chips, having built its own line of Graviton processors. 
Earlier this week, TF International Securities analyst Ming-Chi Kuo said the company's new Inferentia chip is set to be mass produced and shipped in the fourth quarter, which could increase the cloud computing giant's competitiveness and growth. 
Last week, Qualcomm (QCOM) extended its supply agreement with GlobalFoundries (GFS) after Congress passed the U.S. CHIPS and Science Act in July.