New Delhi, Oct. 30 -- On 27 October, Qualcomm's stock jumped 20% in a single day. That's not something you see every day for a $200 billion company.

The reason? Qualcomm just announced it's taking on Nvidia Corp. in the AI chip market.

Now, you might be wondering: Isn't Qualcomm the smartphone chip company? The one that makes the processors in your Android phone? Why is it suddenly going after Nvidia, the $4.5 trillion behemoth that has a large share of the AI chip market?

Good question. Let's break it down.

On Monday, Qualcomm announced something that made Wall Street sit up and take notice. The company unveiled two new AI chips designed specifically for data centres-the AI200 and AI250. And the market seemed to love it. Qualcomm's s...