Qualcomm shares rose 12% premarket on reports it is partnering with OpenAI to develop smartphone processing chips. MediaTek is expected to co-develop while Luxshare will co-design and build the device, with mass production expected in 2028. Analyst Ming-Chi Kuo said OpenAI aims to control both hardware and software to deliver AI agent services and may bundle subscriptions with hardware. The effort follows OpenAI's $6.4B acquisition of Jony Ive's startup io.
