Qualcomm stock jumps 15% as AI partnership with OpenAI, new Snapdragon chips and strong earnings boost investor confidence
Qualcomm stock jumped nearly 15% on Thursday morning as investors became more excited about the company’s growing role in the AI market.
Qualcomm stock jumped nearly 15% on Thursday morning as investors became more excited about the company’s growing role in the AI market. Later in the trading session, the stock cooled slightly but was still trading around 9% higher for the day.
Qualcomm’s trading volume reached 17.9 million shares, which was more than double its normal 20-day average of 8.5 million shares for that time of day, according to Investing.com.Investors believe Qualcomm is becoming a strong AI company instead of only depending on smartphone chips. One major reason behind the rally was reports about Qualcomm partnering with OpenAI to develop an AI-focused smartphone chip.
Original reporting: The Times of India.
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