Qualcomm(US:QCOM) 第一财经·2025-09-24 14:57Core Viewpoint - Qualcomm's China President Meng Pu emphasized that China's industrial chain is the most dynamic and competitive globally, which is essential for the proliferation of edge AI, driven by strong terminal manufacturing capabilities and diverse application scenarios [3][4]. Group 1: Edge AI and Automotive Industry - The automotive sector is identified as an excellent application scenario for edge AI due to safety, mobility, and responsiveness requirements that cannot rely solely on cloud AI [3]. - Qualcomm has established deep collaborations with nearly all major Chinese smartphone brands over the past 30 years, with recent expansions into the automotive market [3][4]. - The rapid development cycles of Chinese electric vehicle manufacturers contrast with the longer timelines of Western manufacturers, leading to diverse demand challenges for Qualcomm [4]. Group 2: Future Opportunities and AI Integration - Meng Pu predicts that applications in robotics and various wearable smart glasses (including AR, VR, and AI glasses) could potentially match or exceed the scale of smartphones in the future [4][5]. - The integration of AI in smart cockpits, driving assistance, and cockpit integration is seen as a significant opportunity for Qualcomm's collaboration with the Chinese automotive industry [4]. Group 3: Industry Trends and Competitive Landscape - The current early stage of AI development presents challenges in adapting various large models to terminals, with Qualcomm focusing on facilitating this adaptation without dictating model choices [4]. - The trend of companies like Apple and Xiaomi developing their own chips is viewed as a normal industry evolution, with Qualcomm's core value lying in its "horizontal empowerment" business model, which aims to provide chip platform services to as many customers as possible without competing with them [5].