Qualcomm shares rise over 11% after announcing its AI chip entry

The market reacted to Qualcomm's announcement of its entry into the AI chip sector. The news generated mixed opinions, causing the company's stock to surge 11.09% to $187.68. Despite this enthusiasm, many analysts are skeptical about Qualcomm's ability to compete directly with Nvidia. While some, like Gene Munster, see a "great opportunity," others, like Jim Cramer, labeled Qualcomm an "empty competitor." A more moderate view from Daniel Newman suggested that even a small market share could mean billions in revenue