Qualcomm shares rose Monday after analyst Ming-Chi Kuo said the chipmaker is reportedly partnering with OpenAI and MediaTek to develop processors for a new AI-focused smartphone. Kuo said China’s Luxshare would be the exclusive design and manufacturing partner, with mass production targeted for 2028.

If launched, the device would mark OpenAI’s biggest move into consumer hardware and could create a new challenger in the premium smartphone market currently dominated by Apple and Samsung.