Qualcomm jumps 12% on report it’s partnering with OpenAI on smartphone AI chip

Qualcomm shares rose in premarket trading Monday following reports that it's partnering with OpenAI to create smartphone processing chips to advance the AI firm's hardware ambitions. The U.S. smartphone chipmaker is set to work alongside Taiwanese semiconductor firm MediaTek to develop the chip for OpenAI, with Chinese manufacturer Luxshare co-designing and building the device.

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