Qualcomm Shares Rally After Reported SpaceX AI Prototype Uses Snapdragon Chip
QCOM•SpaceX reportedly showcased a sleeker-than-iPhone AI-interaction prototype powered by a Qualcomm Snapdragon chipset in private meetings with institutional investors. The Snapdragon revelation prompted a rally in Qualcomm shares, highlighting the chipmaker’s growing presence in high-profile AI hardware partnerships despite Elon Musk later refuting the device rumors.
1. SpaceX AI Prototype Teased
In the days following its IPO, SpaceX privately presented a prototype AI-interaction device to institutional investors. Sources describe the handset as sleeker and thinner than an iPhone and designed to integrate advanced AI features from the xAI division.
2. Snapdragon Chip Integration
The device reportedly runs on a Qualcomm Snapdragon chipset, marking a strategic win for the chipmaker’s high-performance silicon in next-generation AI hardware. The prototype is built on a proprietary operating system tailored to leverage deep learning models developed by SpaceX’s AI arm.
3. Musk Disputes Hardware Reports
Elon Musk publicly dismissed the rumors, labeling the AI device story as 'utterly false' on social media. He emphasized that no formal greenlight has been issued and the concept remains under early-stage evaluation.
4. Qualcomm Shares React
News of the Snapdragon partnership prompted an immediate uptick in Qualcomm shares, as investors priced in the potential for a marquee AI hardware customer. Apple shares saw a modest pullback before recovering, reflecting broader market sensitivity to new device entrants.
