Qualcomm Shares Surge Amid AI Smartphone Chip Plans

Shares of Qualcomm surged about 12% in premarket trading Monday following reports of a potential partnership with OpenAI to develop AI-powered smartphone chips, as reported by CNBC.

According to analyst Ming-Chi Kuo, Qualcomm may collaborate with MediaTek, while Luxshare could co-design and manufacture the device. The report said mass production is expected around 2028. None of the companies have officially confirmed the partnership.

Qualcomm jumps 12% on report it’s partnering with OpenAI on smartphone AI chip https://t.co/PeHwaMsFkQ

— CNBC (@CNBC) April 27, 2026

Kuo stated that controlling both hardware and software is critical for OpenAI to deliver advanced AI agent services. He noted that smartphones remain the most scalable device for real-time AI interaction.

The development aligns with OpenAI’s broader hardware push after acquiring Jony Ive’s startup. According to CNBC, the company is exploring new AI-first devices and business models, including subscription-based ecosystems tied to hardware.

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tippinsightsTIPP Staff