In early trading Monday, Qualcomm shares were up 3.4%, while Alphawave stock surged by 21% in London. Alphawave, based in the U.K., is a leader in high-speed connectivity and cust

U.S. chipmaker Qualcomm agreed to acquire Alphawave for about $2.4 billion on Monday, as it expands into the booming AI data center market, sending shares of the British semiconductor company surging more than 22%.

Qualcomm to acquire Alphawave for $2.4 billion in a strategic push into AI and data center chips, moving beyond reliance on smartphones.