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Qualcomm is reportedly in talks to partner with OpenAI on a chip for a smartphone project. Tech analyst Ming-Chi Kuo said Sunday that Qualcomm (QCOM) is co-developing a chip that would be used in a smartphone developed by OpenAI.
Kuo wrote that OpenAI is collaborating with Qualcomm, along with MediaTek and Luxshare, to finalize the hardware and manufacturing plans by late this year or early 2027. Kuo also said the device is expected to enter production in 2028.
Qualcomm shares have rallied recently, including an 11% surge on Friday after a strong earnings report from Intel lifted a number of hardware stocks. The stock was little changed in early-afternoon trading Monday, after rising as much as 8% in the opening minutes of the session.
Despite gains in recent weeks, Qualcomm shares have lost roughly 13% of their value since the start of 2026. Earlier this year, concerns about a memory shortage hampering smartphone demand pressured the company’s outlook, contributing to losses.
Adding new customers such as OpenAI could help insulate Qualcomm’s business from a potential pullback in smartphone sales, according to the rationale highlighted alongside the report.
Qualcomm and OpenAI did not respond to requests for comment in time for publication. Qualcomm executives could face questions from investors and analysts about the report when the company releases its quarterly results after the closing bell on Wednesday.
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