Stock Movers Qualcomm Gains, Nvidia Down, Uber Rises After Autonomous Vehicle Pacts with Nvidia
Mar 17, 2026
Qualcomm announces a massive $20 billion buyback and a higher quarterly dividend. Nvidia unveils new AI hardware and a bold $1 trillion sales projection through 2027. Rideshare firms strike autonomous vehicle deals to deploy Nvidia-driven fleets across dozens of cities.
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Qualcomm Raises Payouts Amid Soft Handset Forecast
- Qualcomm is boosting shareholder returns with a $20 billion buyback and a dividend increase to $0.92 per share.
- The move comes despite a lukewarm sales forecast and handset demand pressure from memory-chip shortages in China, highlighting capital return confidence.
Nvidia's $1 Trillion Projection Sparks Mixed Market Reaction
- Nvidia projected $1 trillion in sales through 2027, a number that initially spiked the stock but then tempered as investors weighed growth acceleration.
- Analysts noted the figure doubled prior consensus, yet the market focused on whether it truly accelerates growth versus prior $500 billion-to-2026 expectations.
Rideshares Gain From Nvidia Autonomous Partnerships
- Uber and Lyft shares rose after announcing separate partnerships with Nvidia around autonomous vehicle technology and AI.
- Uber will deploy a global fleet of Nvidia software-driven autonomous vehicles across 28 cities by 2028, while Lyft will use Nvidia AI to boost its machine learning systems.