Qualcomm shares surge on reported OpenAI smartphone AI chip partnership
NewsBytes | May 8, 2026 12:40 PM CST
Qualcomm posts earnings beat, $20B buyback
Qualcomm's push into AI, new Snapdragon chips promising faster apps and better graphics (coming in the second half of 2026), and strong growth in its automotive tech division have investors paying attention.
The company also beat earnings expectations, announced a huge $20 billion stock buyback, raised dividends, and benefited from a temporary 90-day US-China tariff pause, making it clear Qualcomm's plans go way beyond just smartphones.
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