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Shares of Qualcomm Incorporated (NASDAQ:QCOM) jumped sharply in premarket trading on Monday, building on strong gains from the previous session, as new analyst commentary highlighted a potential long-term growth driver linked to OpenAI.
The stock climbed about 9.2% ahead of the open after TF International Securities analyst Ming-Chi Kuo reported that industry checks indicate OpenAI is collaborating with Qualcomm and MediaTek to develop smartphone processors. Kuo is widely regarded for his accurate, supply chain-based forecasts.
According to the analyst, Luxshare Precision Industry is expected to serve as the exclusive partner for system co-design and manufacturing, with mass production targeted for 2028.
The report reinforces growing expectations that artificial intelligence could spark a new upgrade cycle in smartphones, potentially benefiting chipmakers with strong positions in mobile processors.
Kuo added that both Qualcomm and MediaTek may see sustained demand over the long term as device replacement cycles accelerate alongside more advanced on-device AI capabilities.
The premarket surge follows a strong performance on Friday, when Qualcomm shares rose 11% amid a broader rally in semiconductor stocks.
The sector’s momentum was partly driven by upbeat first-quarter 2026 results from Intel Corporation, which boosted confidence in chip demand and ongoing investment in AI technologies.
Qualcomm stock price
