06:30 AM EDT, 04/27/2026 (MT Newswires) -- Qualcomm (QCOM) shares were up 11% in premarket activity Monday after a TF International Securities analyst said that industry checks suggest Microsoft-backed (MSFT) OpenAI is working with the semiconductor company and MediaTek to develop smartphone processors.

Luxshare will be the exclusive system co-design and manufacturing partner, with mass production targeted for 2028, TF analyst Ming-Chi Kuo said.

Qualcomm, OpenAI and Luxshare didn't immediately respond to MT Newswires'requests for comment, while MediaTek couldn't be reached.

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