Dragonfly Return

Qualcomm's datacenter re-entry, eight years after Centriq died: Dragonfly C1000 CPU + AI300 accelerator (Investor Day 06-24, stock +15%), Meta and Microsoft named launch customers, $15B datacenter revenue by 2029 target, paired same-day with the announced $3.9B Modular acquisition (close expected H2-26 — audit 07-28) (an explicit anti-CUDA software play). The Tenstorrent talks died (CEO denial within two weeks); Ventana/RISC-V status unclear — does Dragonfly supersede it? First live test: Q3 FY26 earnings 07-29 (tomorrow) — does Dragonfly move guidance?

STATUS · OPEN OPENED · 2026-07-28 LAST SEEN · 2026-07-28

qualcomm Meta AI Microsoft

2026-06-24 — Investor Day: the re-entry ⟨crawl 2026-07-28⟩

Dragonfly C1000 CPU + AI300 accelerator launched — Meta and Microsoft named launch customers, $15B datacenter revenue by 2029 target; stock +15%. Same day: acquired Modular ($3.9B) — an explicit anti-CUDA inference-software play. Analysts frame it as the return to the market Qualcomm exited after Centriq (~2018).

2026-06-15/29 — Tenstorrent died in two weeks ⟨crawl 2026-07-28⟩

The reported $8-10B Tenstorrent talks were real (06-15), then denied by Tenstorrent’s CEO (06-29) — no close. Ventana’s RISC-V line status unclear: superseded by Dragonfly? (open gap)

The Projection

Dragonfly Return

2026-06-24 — Investor Day: the re-entry ⟨crawl 2026-07-28⟩

2026-06-15/29 — Tenstorrent died in two weeks ⟨crawl 2026-07-28⟩

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