u/REAL-ALOY

The QNX design-win backlog has more than doubled since 2022. We're now starting to see that translate into revenue (Automotive +26% Y/Y was an encouraging first step), but I don't think the platform transition has fully played out yet.

**Why I'm optimistic:**

✅ **QNX SDP 8.0 is the biggest architectural upgrade in years.**

* Early Access: 2023

* General Availability: January 2024

* Built for Software-Defined Vehicles, multi-core SoCs, ARMv9, higher scalability, better performance and real-time determinism. ([PR Newswire][1])

✅ **This isn't just another RTOS release.**

SDP 8.0 becomes the foundation for:

* Centralized vehicle compute

* ADAS

* Digital Cockpit

* Domain Controllers

* Physical AI

* Robotics

* Industrial automation

* Medical devices

QNX is evolving from powering individual ECUs to becoming the software foundation for entire mission-critical systems.

✅ **Potentially higher value per vehicle**

Historically, many investors estimated a basic QNX royalty at **under US$10 per vehicle**.

With SDP 8.0, OEMs can deploy multiple QNX technologies together—including the OS, Hypervisor, Safety components and middleware—which could significantly increase the value of each vehicle program. BlackBerry does not publicly disclose pricing, but the content per vehicle appears positioned to increase as software-defined vehicle architectures become more complex. (This is my opinion based on the product strategy.)

✅ **China could become an important catalyst**

China's new intelligent vehicle safety standards take effect on **January 1, 2027**. If OEMs have already been transitioning to SDP 8.0 and newer safety-focused software platforms to meet future requirements, we may begin seeing those design wins convert into production revenue over the coming quarters.

And don't forget...

**Alloy Kore** has the potential to be an even larger revenue driver through recurring software and services, reducing OEM development costs while accelerating software-defined vehicle deployment.

**My takeaway:**

For years, investors focused on vehicle volume.

I think the more important question now is:

**How much QNX software will each next-generation vehicle contain?**

If each vehicle carries substantially more QNX software than previous generations—and BlackBerry executes on Alloy Kore and Physical AI—the backlog could begin converting into materially higher revenue over the next several years.

*This is my personal opinion and investment thesis, not financial advice.*

​

Six years ago, many investors said BlackBerry was misunderstood. Today, I believe the company is even more misunderstood than it was then....

Back in 2020, the investment thesis was relatively simple:

• QNX dominated automotive RTOS.

• Cybersecurity had hidden value.

• The market was still pricing BlackBerry like a failed smartphone company.

Fast forward to today, and the story has evolved significantly.

**QNX is no longer just an automotive RTOS.**

It is becoming the software platform powering the next generation of **mission-critical Physical AI**—from software-defined vehicles to robotics, industrial automation, medical devices, and intelligent machines where safety, security, and deterministic performance are non-negotiable.

Just as importantly, BlackBerry has introduced **Alloy Kore**, which I believe is one of its most overlooked assets.

Rather than selling another piece of middleware, Alloy Kore provides OEMs with a reusable, safety-certified software architecture that can dramatically reduce development effort, shorten certification cycles, and accelerate software-defined vehicle programs. Management has highlighted potential benefits including thousands of engineering hours saved and meaningful reductions in development costs and program delays.

Another important shift is the business model.

The discussion is no longer limited to one-time per-vehicle royalties. Increasingly, the focus is on software platforms, lifecycle services, and recurring subscription opportunities that can generate value well beyond initial vehicle production.

Then there's the broader ecosystem.

Features such as Apple CarPlay Ultra's deeper vehicle integration, the rapid adoption of centralized vehicle computing, and the industry-wide move toward software-defined architectures all increase the importance of trusted, safety-certified operating platforms. QNX is already deeply embedded in that ecosystem.

So the investment debate has changed.

The question is no longer, **"Is QNX a great RTOS?"**

The real questions are:

• How quickly will Alloy Kore scale across OEMs?

• How large can recurring software revenue become?

• Can QNX establish itself as the operating platform for the emerging Physical AI economy?

The BlackBerry of today is very different from the BlackBerry many investors still remember.

It is no longer attempting to build a better RTOS.

It is building a secure, safety-certified software platform for the next generation of intelligent machines.

Time will determine how large that opportunity becomes—but I believe the market is still significantly underestimating the scope of that transformation.

REALALOY

Introducing Alloy Kore - a pre-integrated, scalable software platform for High-Performance Computing (HPC) in Software-Defined Vehicles, jointly developed by QNX and Vector.

https://youtu.be/2tviLx0jhos?si=5obqt9MNaq5TYH9G

BlackBerry owns every event coming out of every sensor in a car... right now in 275 Million cars run on QNX....

Yet to be monetized....

Your phone has been monetized, but not your car as yet....

Another thing BlackBerry $BB QNX is involved in....

QNX Technology to Help Drive BMW Group's Next-Generation of Software-Defined Vehicles

https://qnx.software/en/press-release/2026/qnx-technology-to-help-drive-bmw-group-s-next-generation-of-software-defined-vehicles

The original BMW SUV has entered the Neue Klasse - and it's not all electric 🌊 buff.ly/ddXgEgp

QNX is at the AGIBOT UK launch. Lots of partners joined from around the world while semiconductor and cloud companies like Arm, NVIDIA, Amazon Web Services (AWS) and others are here. It was all about Physical Al, Embodied Al, humanoid and quadruped robots.

Great talk from John Kourentis of Arm around powering the next generation of robotics and industrial automation.

Also a great presentation of lan Pulford of Smart City Consultancy and head of Ohmio around Autonomy as a Service and how critical functional safety of software is in technologies such as robotics and AVs. Ian wants to bring more robots and autonomous vehicles at the centre of Milton Keynes, my hometown in the UK. Talking about the future, hey!

​

* **Alloy Kore** – The industry's first production-ready **software-defined vehicle (SDV) foundation**, enabling OEMs like Volkswagen to dramatically reduce development costs, shorten certification timelines, and accelerate vehicle launches. Unlike vertically integrated solutions, **Alloy Kore is a plug-and-play platform designed to work with any OEM and virtually any automotive chip supplier**.

* **QNX: The Operating Platform for Physical AI** – QNX is evolving beyond automotive RTOS into the trusted operating platform for **robotics, industrial automation, medical devices, autonomous systems, and next-generation edge AI**. Its combination of **functional safety, cybersecurity, deterministic real-time performance, and certification pedigree** gives it advantages that general-purpose operating systems such as Linux struggle to match in mission-critical environments.

* **Apple CarPlay Ultra** – The next generation of CarPlay relies on **secure, bidirectional communication** between iPhone and vehicle systems. In many vehicles, that trusted layer is **QNX**, enabling authenticated data exchange between Apple services and safety-critical vehicle functions while preserving security, reliability, and functional safety.

**Bottom line:** BlackBerry is no longer just an automotive software company—it is positioning QNX as the **trusted operating platform for the next generation of intelligent, software-defined, mission-critical machines.**

Alloy Kore is designed to give OEMs the freedom to choose the best hardware without paying the traditional software penalty. By standardizing the software foundation across multiple chip vendors, BlackBerry QNX enables faster development, lower costs, stronger supplier flexibility, and a scalable platform for software-defined vehicles and the emerging era of Physical AI.

John Wall Explains the Future of Mission-Critical Computing....

​

How BlackBerry is expanding beyond automotive into software-defined vehicles, robotics, industrial automation, medical devices, and the next generation of mission-critical computing.

BlackBerry isn't trying to become a better RTOS anymore. It's building the operating platform for mission-critical Physical Al.

"From competing within the RTOS market to competing for the future of mission-critical computing."

$BB

@BlackBerry $BB @QNX_News

@Apple $AAPL

Apple CarPlay Ultra + QNX: Why It Matters

CarPlay Ultra on iOS 27 introduces **bidirectional communication** between Apple and the vehicle, not just screen mirroring.

As illustrated in the infographic, navigation requests, battery status, ADAS information, charging data, and vehicle sensors are continuously exchanged between CarPlay Ultra and the vehicle's operating system.

In many software-defined vehicles, that trusted safety-certified operating system is **QNX**.

Rather than communicating directly with dozens of individual vehicle controllers, Apple exchanges vehicle-critical information through the underlying OS, making secure, real-time integration possible.

### Why this is significant

* **Deeper vehicle integration** increases the importance of the underlying operating system.

* **Every navigation, charging, and ADAS interaction** generates additional data flowing through the vehicle software stack.

* As CarPlay Ultra expands across compatible vehicles, the amount of data handled by the underlying platform is expected to grow substantially.

The infographic illustrates this end-to-end data flow and why deeper software integration may increase the strategic importance of safety-certified platforms such as such as QNX.