Apple Shares Slip 1.5% Over OpenAI Chip

Apple Inc. shares fell about 1.5% in early New York trading on Monday following reports of OpenAI's involvement in smartphone processor development.
Analyst Ming‑Chi Kuo of TF International Securities said OpenAI is reportedly collaborating with Qualcomm and MediaTek to create smartphone chips.
Kuo suggested OpenAI may bundle its subscription services with hardware and launch an AI agent ecosystem for developers.
Qualcomm shares surged over 11% amid speculation of partnership with OpenAI on chip development, boosting semiconductor sector sentiment.