
Qualcomm Surges 9% on OpenAI Smartphone Chip Partnership
Qualcomm shares moved sharply higher on Monday, April 27, 2026, after reports surfaced that the chipmaker is co-developing smartphone processors for OpenAI. The stock jumped roughly 9% during the New York Stock Exchange session, climbing about $13.85 per share, after spiking as much as 13% in premarket trading. The rally unfolded against an otherwise mixed market backdrop, with the S&P 500 hovering near record territory and the Dow drifting modestly lower as oil prices climbed on stalled Iran negotiations. The catalyst came not from a corporate press release but from a Monday morning post on X by Ming-Chi Kuo, the TF International Securities analyst widely followed for his accuracy on consumer electronics supply chains. Kuo identified Qualcomm and Taiwan-based MediaTek as joint co-development partners for OpenAI’s planned smartphone processor, with Chinese assembler Luxshare serving as the exclusive system design and manufacturing partner. Mass production, according to the note, is targeted for 2028. What the Partnership Looks Like






































