Qualcomm Shares Surge 10% on Potential OpenAI Smartphone Chip Deal
Qualcomm shares jumped 10% on reports of a potential OpenAI smartphone-chip partnership that could position the company as a hardware leader in AI-driven devices. Options trading volume surged to 108,000 calls—six times the intraday average—with highest interest in June 175 and May 1 160-strike calls.
1. Stock Reaction to Collaboration Reports
Qualcomm shares jumped over 10% after reports emerged of a potential Qualcomm-OpenAI smartphone chip partnership, moving above the 100-day moving average for the first time since early January and narrowing a year-to-date deficit of 13.4%.
2. Options Market Activity
Options call volume surged to 108,000 contracts—six times the intraday average—with June 175-strike and May 1 160-strike calls leading activity; the 10-day call/put ratio sits above 70% of annual readings and Schaeffer’s Volatility Scorecard stands at 18 out of 100.
3. Strategic Implications for Qualcomm
The collaboration would integrate Qualcomm’s mobile processor leadership with OpenAI’s AI software to power next-generation AI agent phones, with design choices expected by late 2026 or early 2027 and production timelines pointing toward 2028, potentially reshaping Qualcomm’s growth mix.