Qualcomm jumps 12% on report it’s partnering with OpenAI on smartphone AI chip
By Sawdah Bhaimiya
Published on April 27, 2026.
Qualcomm shares rose by 12% following reports that it is partnering with OpenAI to create smartphone processing chips. The partnership is expected to advance the AI firm's hardware ambitions. Qualcomm will collaborate with Taiwanese semiconductor firm MediaTek to develop the chip for OpenAI, with Chinese manufacturer Luxshare co-designing and building the device. Mass production of the device is expected in 2028. This partnership comes after OpenAI acquired Apple's design chief Jony Ive's startup, io, for $6.4 billion in equity last year.
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