New Delhi, Oct. 27 -- Qualcomm Inc. on Monday triggered its biggest share rally since 2019 after unveiling artificial intelligence processors and computer systems targeting the highly profitable AI data centre market. The move aims to challenge Nvidia Corp. in the industry's fastest-growing segment.

Qualcomm's shares climbed by as much as 22% to $205.95 on Monday. Arm Holdings Plc, which develops some of the underlying technology utilised by Qualcomm, also advanced, rising 4.7% to $178.69.

San Diego-based Qualcomm is attempting to break into a sector that has already transformed the semiconductor industry, with hundreds of billions of dollars being spent on data centres to power artificial intelligence software and services. This intens...