Qualcomm has agreed to acquire Alphawave Semi, a U.K.-based semiconductor company focused on high-speed data center connectivity, for around $2.4 billion. According to Qualcomm CEO Cristiano Amon, the deal will help Qualcomm grow its data center business. The acquisition of Alphawave will enable Qualcomm to expand its portfolio in high-growth areas, including data center infrastructure. This move comes as Qualcomm seeks to diversify its offerings in the face of challenges in the smartphone market. The deal is expected to close in the first quarter of 2026.
