Chipmaker Qualcomm has seen its stock climb by a notable 63.8%. Despite this considerable growth, the company's market performance still lags when compared to its key competitors.

A significant development for Qualcomm is its strengthened relationship with automotive giant Stellantis. The two companies have entered a far-reaching, long-term agreement.

This partnership is set to integrate Qualcomm's advanced artificial intelligence technology into the next generation of connected vehicles produced by Stellantis. At the heart of this expanded collaboration are Qualcomm's Snapdragon Digital Chassis solutions.

The critical question remains whether this substantial deal, bringing cutting-edge AI to the automotive sector, will be enough to reverse Qualcomm's trailing stock performance. The market's reaction to the deal's long-term impact on the company's competitive standing is still unfolding.