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Qualcomm Technologies, Inc. (Nasdaq: QCOM) and Honeywell (Nasdaq: HON) announced on Tuesday an expansion of their collaboration to develop artificial intelligence-powered solutions for the energy sector. The partnership aims to revolutionize industrial operations by integrating Qualcomm’s advanced connectivity and AI technologies into Honeywell’s applications, including the Field Process Knowledge System (PKS).
Qualcomm and Honeywell Extend AI Partnership
The expanded collaboration focuses on enhancing data capture and analytics capabilities at the edge in plant and manufacturing facilities.
By incorporating Qualcomm’s low-power AI-enabled processors with native wireless connectivity into Honeywell’s sensing technologies, the partnership will facilitate the development of a new family of industrial sensors for monitoring various parameters.Key benefits of this collaboration include improved connectivity in remote areas of facilities and faster, more accurate information delivery to field and service technicians. The integration of these technologies is expected to support industrial digital transformation, improve efficiencies, and advance automation and energy transition initiatives.
Honeywell and Qualcomm Stock Gain on the News
As of 10:46 AM EDT on Tuesday, Honeywell’s stock (HON) was trading at $210.29, up 1.59% for the day, with a market capitalization of $136.619 billion. Meanwhile, Qualcomm’s stock (QCOM) was at $167.84, up 0.90%, with a market cap of $187.041 billion.The collaboration between the two tech giants extends beyond the current initiatives. In 2025, Honeywell plans to incorporate Computer Vision capabilities into its Multi-Modal Intelligent Agent within the Field PKS. Additionally, the partnership will enable energy sector customers to utilize intelligent handheld devices and battery-powered low-power wireless access sensors for monitoring critical systems.While both companies have seen positive stock performance over the past year, with Qualcomm notably outperforming the S&P 500, analysts have recently adjusted their outlook. Cantor Fitzgerald, for instance, lowered its price target for Qualcomm from $215 to $160, reflecting the dynamic nature of the tech sector and ongoing market uncertainties.More By This Author:Alphabet Stock Dips In Premarket Amid Antitrust Breakup Threat Hindenburg Goes Short On Roblox: Summary Of Allegations PepsiCo Reports Resilient Third-Quarter Core EPS Of $2.31 Amidst Challenges
