Could This New AI Smartphone Compete With Apple? Qualcomm Shares Rise

BreakingBusinessCould This New AI Smartphone Compete With Apple? Qualcomm Shares RiseByTy Roush,Forbes Staff. Ty Roush is a breaking news reporter based in New York City.Follow AuthorApr 27, 2026, 10:29am EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.ToplineQualcomm shares rallied early Monday after a tech industry analyst reported the chipmaker partnered with OpenAI to develop a smartphone, following speculation of what could be the AI giant’s first hardware after CEO Sam Altman teased fully AI-powered “companions.” Sam Altman planned to develop AI “companions” after OpenAI added Apple’s famed designer last year. NurPhoto via Getty ImagesKey FactsShares of Qualcomm rose nearly 8% at the open on Monday, adding to a 17% rally over the last month as of Friday, when shares jumped more than 11%.Ming-Chi Kuo, an analyst at TF International Securities, said late Saturday Qualcomm will work with Taiwanese semiconductor firm MediaTek to develop a smartphone chip for OpenAI, and Chinese manufacturer Luxshare will co-design and build the device.Mass production of the device is expected by 2028, Kuo said, but noted “specifications and suppliers” will be finalized by late 2026 or the first quarter of 2027.Neither Qualcomm nor OpenAI immediately responded to Forbes’ request for comment. if (!window.cnxel) { window.cnxel = {}; window.cnxel.cmd = []; var iframe = document.createElement('iframe'); iframe.style.display = 'none'; iframe.onload = function() { var iframeDoc = iframe.contentWindow.document; var script = iframeDoc.createElement('script'); script.src = '//cd.elements.video/player.js?cid=62cec241-7d09-4462-afc2-f72f8d8ef40a'; script.setAttribute('defer', '1'); script.setAttribute('type', 'text/javascript'); iframeDoc.body.appendChild(script); }; document.head.appendChild(iframe); const preloadResourcesEndpoint = 'https://cds.elements.video/a/preload-resources-ovp.json'; fetch(preloadResourcesEndpoi...