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Qualcomm jumped over 12% premarket to $167.23, making it the sharpest premarket riser in the Nasdaq 100.
Qualcomm is reportedly partnering with OpenAI to develop smartphone processors.
KEY POINTS
- MediaTek is also collaborating with OpenAI on processor development, per analyst Ming-Chi Kuo.
- OpenAI's projects with Qualcomm and MediaTek signal a potential move into developing hardware.
- Shares of Qualcomm surged over 12% following news of the potential OpenAI partnership.
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