Qualcomm surges on report of OpenAI tie-up for AI smartphone processors
Qualcomm shares jumped 13% after an analyst reported that OpenAI is working with Qualcomm and MediaTek to develop AI-first smartphone processors. The device is expected to enter mass production in 2028 with China's Luxshare as the exclusive system design and manufacturing partner.
Qualcomm shares surged 13% in premarket trading after TF International Securities analyst Ming-Chi Kuo reported that OpenAI is collaborating with Qualcomm and Taiwan's MediaTek to develop AI-first smartphone processors. The device is expected to enter mass production in 2028. China's Luxshare, an Apple supplier, is the exclusive system design and manufacturing partner. OpenAI has been exploring consumer AI devices for years and acquired Jony Ive's startup io Products for $6.5 billion last May. The planned device is not expected to be a traditional smartphone, with OpenAI CEO Altman describing it as a 'third core device' alongside phones and laptops.
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