Shares in Apple supplier jump on back of gadget rumour
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Luxshare, a Chinese device manufacturer known for its supplies to Apple, saw its share price rise 10% on the back of a report suggesting it had struck a deal with OpenAI to produce a consumer AI device. According to The Information, Luxshare is already developing a prototype of this device using ChatGPT’s large language models.
Sources say that a potential product being discussed resembles a smart speaker without a screen. This positions it as a competitor to Apple devices that use Siri, with a targeted launch window between late 2026 and early 2027. Luxshare’s shares have risen by about 50% since the start of the year.
The Shenzhen Stock Exchange limits daily fluctuations in most stocks to 10% of the previous day’s closing price. Reports also suggest that Luxshare could be the subject of a secondary listing in Hong Kong later this year.
OpenAI has always shown interest in developing AI devices that could challenge Apple and its dominance on the iPhone. The Information revealed that OpenAI has actively recruited Apple employees to join its hardware division, which is currently led by former Apple executive Tang Tan.
Earlier this year, OpenAI partnered with Jony Ive after acquiring his hardware start-up, io Products, for $6.4 billion (€5.4 billion). Ive is known for designing several iconic Apple products, including the iPhone, iPad, and MacBook Air.
A partnership between Luxshare and OpenAI would bring the long-established Apple supplier into the fold of the AI company. Luxshare assembles various Apple products, including AirPods and the Vision Pro. In addition, OpenAI has reportedly hired Goertek, another Chinese assembler of AirPods, HomePods, and Apple Watches, to supply components such as speaker modules for its upcoming devices.
OpenAI’s foray into hardware intensified with the hiring in November of the former head of Meta’s Orion augmented reality glasses to lead its robotics and consumer hardware efforts. In the same month, OpenAI invested in Physical Intelligence, a start-up specialising in robots and aiming to integrate general-purpose AI into the physical world.
Business AM