Qualcomm stock is soaring today as rumblings of an OpenAI smartphone deal emerge. Here’s what’s happening

Shares in Qualcomm Incorporated (Nasdaq: QCOM) are surging in premarket trading this morning after reports emerged that the company may be on the cusp of a deal with artificial intelligence giant OpenAI.

The deal would see Qualcomm CPUs powering a potential OpenAI smartphone—and would be a further sign that AI may shift from being primarily GPU-powered to CPU-powered. Here’s what you need to know.

Will the CPU replace the GPU in the AI space?

Currently, the most...