Qualcomm (QCOM) reports Q2 earnings April 29. Options signal 8.71% move amid analyst downgrades, memory shortages, and smartphone market weakness.

Sam Altman planned to develop AI “companions” after OpenAI added Apple’s famed designer last year.

Shares of Qualcomm (NASDAQ:QCOM | QCOM Price Prediction) are surging in Friday midday trading, up roughly 11% as the semiconductor complex catches fire. The stock last changed hands near $148.28, after closing Thursday at $133.

Qualcomm surged 7% on an OpenAI AI chip deal while the Nasdaq dipped 0.30% Monday as Hormuz tension and stalled Iran talks pushed oil higher and reset inflation expectations.

Bloomberg journalists discuss today's biggest winners and losers in the stock market. Listen for analysis on the companies making news on Wall Street.

Shares of Qualcomm (NASDAQ:QCOM | QCOM Price Prediction) are up roughly 7% in early Monday trading, extending a powerful run that already saw the stock jump 11% on Friday after the earnings print. The pre-market tape has been wild,

Qualcomm is trading lower despite a tech supply chain analyst saying OpenAI is working with the chip maker to develop smartphone processors.