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Qualcomm's expansion into datacenter chips is being described by analysts as a genuine strategic pivot, though some argue the shift is already well understood by the market and largely reflected in the stock's valuation. The move represents an effort by Qualcomm to diversify beyond its core mobile chip business into higher-growth AI infrastructure markets. Analysts note that while the datacenter opportunity is real, the market's awareness of the strategy limits the potential for a re-rating surprise, tempering enthusiasm about near-term upside from the initiative.