Qualcomm Shares Jump Premarket after Analyst Claims OpenAI Partnership
By Joe Stonor
Shares in semiconductor designer Qualcomm surged premarket after a tech analyst said the company is partnering with OpenAI to develop smartphone processors.
Qualcomm jumped over 12% premarket to $167.23, making it the sharpest premarket riser in the Nasdaq 100.
OpenAI is working with San Diego-based Qualcomm as part of its potential move into developing hardware, TF International Securities analyst Ming-Chi Kuo said in a post on social media site X. Taiwanese semiconductor group MediaTek is also working on processors with OpenAI, the analyst said.
Kuo runs a popular X account that posts analysis and market news on tech companies. The post has been viewed 361,000 times, according to X.
If confirmed, the partnership would give a major boost to Qualcomm's revenue growth outlook, Kuo added.
Qualcomm, OpenAI and MediaTek did not immediately respond to requests for comment.
Write to Joe Stonor at josephmichael.stonor@wsj.com
(END) Dow Jones Newswires
April 27, 2026 06:28 ET (10:28 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
4 Stocks to Buy for the Long-Term While They’re Still Undervalued
Why This Vanguard ETF Is One of the Best
6 ETFs To Diversify Away From AI
The Best AI Stocks to Buy Now
United States