financetom
Market
financetom
/
Market
/
Qualcomm surges on report of OpenAI tie-up for AI smartphone processors
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Qualcomm surges on report of OpenAI tie-up for AI smartphone processors
Apr 27, 2026 5:23 AM

April 27 (Reuters) - Qualcomm ( QCOM ) 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 ( QCOM ) 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.

China's Luxshare, an Apple supplier, is the exclusive system design and manufacturing partner for the device, according to Kuo, who is based in Taiwan and known for his accurate predictions on Apple's products.

The companies did not immediately respond to requests for comment.

OpenAI has been exploring consumer AI devices for years and last May acquired Jony Ive's startup io Products for $6.5 billion, tapping the former Apple designer to lead the efforts.

But media reports have indicated that the planned device would not be a smartphone. Altman told employees it would be a "third core device" alongside phones and laptops, the Wall Street Journal reported last year.

The loss-making startup has also pulled back from side projects to focus on coding tools for businesses - one of the few AI areas with clear commercial traction.

Launching a smartphone would pit OpenAI directly against deep-pocketed rivals Apple and Samsung, which together command about a 40% share of the global market for the device.

It would also add to signs that the smartphone would likely retain its central role in people's lives in the AI era, after Reuters reported last month that Amazon ( AMZN ) was planning a fresh push into the handset market.

Apple shares were down 1.7%. The company last week named long-time hardware chief John Ternus as CEO, a sign that devices would continue to play a central role in its business even as it looks to catch up in offering AI to users.

(Reporting by Deborah Sophia in Bengaluru; Editing by Arun Koyyur)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US STOCKS-Wall St jumps as softer producer prices data boosts rate optimism
US STOCKS-Wall St jumps as softer producer prices data boosts rate optimism
Aug 13, 2024
(For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window) * US producer prices rise less than expected in July * Starbucks ( SBUX ) up after naming Chipotle boss Brian Niccol as CEO * BuzzFeed ( BZFD ) jumps on smaller Q2 loss * Indexes up: Dow 0.54%, S&P...
US Equity Indexes Rise, Treasury Yields Decline After Wholesale Price Inflation Cools
US Equity Indexes Rise, Treasury Yields Decline After Wholesale Price Inflation Cools
Aug 13, 2024
12:58 PM EDT, 08/13/2024 (MT Newswires) -- US equity indexes jumped while government bond yields declined after July's headline and core producer price inflation came in cooler than forecast. The Nasdaq Composite jumped 2% to 17,121.1, with the S&P 500 up 1.4% to 5,417.2 and the Dow Jones Industrial Average 0.8% higher at 39,681.3. All sectors except energy were in...
Exchange-Traded Funds, US Equities Higher After Midday Trading
Exchange-Traded Funds, US Equities Higher After Midday Trading
Aug 13, 2024
01:08 PM EDT, 08/13/2024 (MT Newswires) -- Broad Market Indicators Broad-market exchange-traded fund IWM and IVV were higher. Actively traded Invesco QQQ Trust (QQQ) gained 2.1%. US equity indexes jumped while government bond yields declined after July's headline and core producer price inflation came in cooler than forecast. Energy iShares US Energy ETF (IYE) fell 0.9% and Energy Select Sector...
EMERGING MARKETS-Latin American stocks, FX rise ahead of U.S. data, services data boosts Brazil's real
EMERGING MARKETS-Latin American stocks, FX rise ahead of U.S. data, services data boosts Brazil's real
Aug 13, 2024
(Updated at 1515 GMT) * Brazil's service sector hits record high in June * Itau Unibanco ( ITUB ) shares at all-time high * Rouble steadies against dollar * Latam stocks index up 0.4% By Lisa Pauline Mattackal Aug 13 (Reuters) - Latin American stocks and currencies broadly rose on Tuesday amid hopes softening U.S. inflation data that could lead...
Copyright 2023-2026 - www.financetom.com All Rights Reserved