Qualcomm Agrees to Buy Chip Firm Alphawave for $2.4 Billion (2)

Qualcomm Inc. has agreed to buy London-listed semiconductor company Alphawave IP Group Plc for about $2.4 billion in cash to expand its technology for artificial intelligence.

The offer equates to about 183 pence per share for Alphawave, the companies said in a statement on Monday. That’s a 96% premium to the company’s share price on March 31, the last trading day before Alphawave and Qualcomm disclosed the talks. The deal, which is still subject to regulatory and shareholder approval, is expected to close in the first quarter of 2026.

Qualcomm Chief Executive Officer Cristiano Amon is looking to lessen the ...