# Qualcomm (QCOM) stock inched up on April 27 following reports that the chipmaker has partnered with OpenAI to develop specialized processors for an artificial intelligence (AI) native smartphone.

*semiconductor · news · 2026-04-28 · Barchart*

## Key points

- Qualcomm is partnering with OpenAI to develop specialized AI processors for an AI-native smartphone.
- The Qualcomm-OpenAI device aims to replace traditional apps with on-device AI agents.
- Qualcomm could offset Apple modem revenue losses if the device reaches 350 million annual shipments by 2028.
- Qualcomm's management approved a $20 billion stock buyback, signaling confidence despite short-term earnings decline.

**Companies:** Qualcomm, Apple
**Countries:** United States

[Read the full story on Barchart](https://www.barchart.com/story/news/1562344/is-qualcomm-stock-a-buy-amid-reports-of-openai-partnership)

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