Qualcomm climbs, analyst says co working with OpenAI to develop smartphone processors

MEDIATEK

27/04/2026 12:16

** Shares of chip firm Qualcomm QCOM.O up 13.5% at 169.08 premarket

** Analyst Ming‑Chi Kuo from TF International Securities says OpenAI is working with Qualcomm and MediaTek to co‑develop smartphone processors, with mass production targeted for 2028

** Kuo says OpenAI aims to redefine smartphones around AI agents, shifting usage from apps to task‑based interactions

** Qualcomm to report its Q2 earnings on Wednesday

** As of last close, QCOM down ~13% YTD vs nearly 50% surge in the Philadelphia chip index .SOX

(Reporting by Tharuniyaa Lakshmi in Bengaluru)

((tharuniyaa@thomsonreuters.com))