00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Qualcomm shares rose 12% in pre-market trading on Monday, following reports that it is partnering
00:08with OpenAI to develop smartphone processing chips, according to CNBC. The company is expected
00:14to work with MediaTek, while Luxshare will co-design and build the device. Mass production
00:19is expected in 2028. None of the companies confirmed the partnership. TF International
00:25Securities Analyst Ming-Chi Kuo said, OpenAI aims to control both hardware and software
00:31to deliver AI agent services and view smartphones as the largest device category. He said,
00:37OpenAI may bundle subscriptions with hardware and build an AI ecosystem. The effort follows
00:42OpenAI's $6.4 billion acquisition of Joni Ives' Startup I.O. and a reported Luxshare
00:48production agreement. For all things money, visit Benzinga.com.
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