Shares of British semiconductor company Alphawave surged more than 20% on Monday after US chip giant Qualcomm confirmed a $2.4 billion all-cash takeover, signaling a strategic expansion of Qualcomm’s capabilities in high-speed connectivity.
Qualcomm will pay 183 pence per share for Alphawave, nearly doubling the company’s valuation compared to its stock price before acquisition talks began in early April. The offer represents a 95% premium over Alphawave’s pre-announcement trading level of 94 pence.
Alphawave, which designs chip technology focused on high-speed data transmission, has drawn interest for its intellectual property portfolio and customer base, including major hyperscalers — widely believed by analysts to include Amazon Web Services (AWS).
Industry analysts had anticipated the deal would materialize, viewing Alphawave as a strategic fit for Qualcomm as it looks to enhance its portfolio amid increasing demand for AI, cloud, and 5G infrastructure. The acquisition is expected to strengthen Qualcomm’s position in key semiconductor markets while expanding its footprint in the UK and Europe.
The news comes as global semiconductor companies ramp up efforts to consolidate and invest in advanced chip technologies amid escalating competition and geopolitical pressures, particularly in US-China trade relations.
Meanwhile, broader financial markets in Europe saw mixed performance. The Hang Seng Tech Index rose as much as 3.2% during Monday trading before paring gains following disappointing Chinese trade data. Rare-earth and tech stocks in Asia also climbed ahead of renewed US-China trade talks scheduled for London, reflecting cautious optimism among investors.
