Qualcomm surges on report of OpenAI tie-up for AI smartphone processors

Qualcomm shares jumped 13% in premarket trading on Monday after an analyst said OpenAI was working with the chip designer and Taiwan’s MediaTek to develop smartphone processors.

Qualcomm and MediaTek are co-development partners for an AI-first smartphone that the ChatGPT creator is planning, with mass production likely in 2028, TF International Securities analyst ‌Ming-Chi Kuo ⁠said in ⁠a post on social media platform X.