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Chinese electronics manufacturer Luxshare Precision Industry (SZ:002475) surged to record highs this week after reports revealed a partnership with OpenAI to develop a consumer artificial intelligence device. Shares jumped 10% on Monday and Tuesday, outperforming the broader market as the Shanghai Composite Index fell 1%. The stock touched an all-time high of 67.05 yuan.
The Information reported that OpenAI struck a deal with Luxshare to produce AI hardware designed to integrate closely with ChatGPT and other OpenAI models. The news comes only months after OpenAI acquired hardware startup io Products, founded by former Apple (NASDAQ:AAPL) design chief Jony Ive, signaling the company’s ambitions in AI-driven consumer electronics.
Luxshare, a leading assembler of iPhones and AirPods, is considered well-positioned to bring AI hardware to market given its expertise in advanced consumer devices. Meanwhile, Goertek (SZ:002241), another Apple supplier, was also approached by OpenAI to provide audio components. Goertek manufactures AirPods, HomePods, and Apple Watches.
Investor sentiment around Goertek was mixed. Its shares fell 5.5% on Tuesday after rallying 7.7% the previous session. Still, analysts at CLSA reiterated an Outperform rating, supporting optimism about the company’s role in the AI hardware supply chain.
Apple suppliers more broadly also saw a boost, with expectations of strong demand for the newly launched iPhone 17 adding momentum.
The potential collaboration between OpenAI, Luxshare, and Goertek underscores the growing intersection between artificial intelligence and consumer electronics, highlighting China’s critical role in Apple’s supply chain and the next generation of AI-powered devices.
