Qualcomm is one of the biggest semiconductor companies making chipsets.

Nurphoto | Nurphoto | Getty Images

Qualcomm shares rose in premarket trading Monday following reports that it's partnering with OpenAI to create smartphone processing chips to advance the AI firm's hardware ambitions.

The U.S. smartphone chipmaker is set to work alongside Taiwanese semiconductor firm MediaTek to develop the chip for OpenAI, with Chinese manufacturer Luxshare co-designing and building the device, Ming-Chi Kuo, an analyst at TF International Securities, said on X on Monday . Mass production of the device is expected in 2028, according to Kuo.

Qualcomm was last up 12% in premarket trading.…