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Qualcomm shares rise as Amazon chip deal adds momentum

The stock move comes as Qualcomm, which lagged the broader chip rally this year, steps into multiple chip projects with Amazon.

Reported · Written up by our desk · Equities

Qualcomm shares climbed after news that Amazon has a chip deal involving the company, adding a new catalyst for investors. MarketWatch noted that Qualcomm has missed out on the chip sector's larger rally so far this year.

The outlet said Qualcomm is now working on various chip projects with Amazon, positioning the company for renewed attention as momentum returns to parts of the semiconductor space.

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