How Qualcomm is betting big on AI and auto to hold onto wireless dominance

Qualcomm long reigned as the world's biggest fabless chip company, pioneering the cellular age and making the modems inside nearly every smartphone today. But ChatGPT sent Nvidia's revenue soaring past Qualcomm's in August, and Apple is working on its own modems for iPhones in 2024. Now, Qualcomm is diversifying into smart cars, chips for VR headsets and a push to power generative AI off the cloud. CNBC got a look at Qualcomm's chip lab in San Diego to learn more.