Nvidia shares jump 3.6% after Qualcomm's deal with OpenAI signals on-device AI expansion beyond data centers

Nvidia (NASDAQ:NVDA) stock rose 3.6% in afternoon trading following news of Qualcomm's deal with OpenAI to integrate advanced models directly into mobile processors, expanding the addressable market for high-end silicon.

The shift represents AI intelligence moving from massive data centers to consumer edge devices, broadening the silicon ecosystem beyond Nvidia's specialized graphics chips.

Nvidia shares closed at $216.57, up 4% from the previous close, and have set a new 52-week high at $216.50 per share. The stock is up 14.6% since the beginning of the year.