Even if the network is a gamble, it's probably a smart one for Qualcomm to take.

FORBES: Qualcomm's Field Of Streams

But, with the explosion of smart phone and tablet use, Qualcomm is growing much faster.

FORBES: Connect

Chanda thinks growth at Qualcomm is likely to accelerate as smart phones and tablets enter the mainstream.

FORBES: CES: Buy Qualcomm As Tablet, Smart Phone Play, Analyst Says

However Nvidia faces pressure from Intel, which is building more graphics processing smarts into its PC processors, in addition to competition from Texas Instruments and Qualcomm for a place in tablets and smart phones.

FORBES: Nvidia Shares Jump 17% On Upbeat Guidance

Qualcomm's chips have an even broader reach, appearing in smart TVs, game consoles, home automation devices and even cars.

CNN: CES keynote: Young people today are 'born mobile'