Qualcomm shares surge on reported OpenAI smartphone AI chip partnership
Qualcomm shares soared nearly 15% after reports of a partnership with OpenAI to build an AI-focused smartphone chip, which could begin mass production in 2028.
The buzz sent the stock to a yearly high before later trading around 9% higher for the day and trading volume more than twice its 20-day average for that time of day.
Qualcomm posts earnings beat, $20B buyback
Qualcomm's push into AI, new Snapdragon chips promising faster apps and better graphics (coming in the second half of 2026), and strong growth in its automotive tech division have investors paying attention.
The company also beat earnings expectations, announced a huge $20 billion stock buyback, raised dividends, and benefited from a temporary 90-day US-China tariff pause, making it clear Qualcomm's plans go way beyond just smartphones.