Qualcomm Shares Jump Premarket after Analyst Claims OpenAI Partnership

Published: 2026-04-27 06:29:33 ET QCOM

Published on 04/27/2026 at 06:29 am EDT

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 [email protected]

(END) Dow Jones Newswires

04-27-26 0628ET