Qualcomm Inc. $QCOM has announced its agreement to acquire London's semiconductor firm, Alphawave IP Group Plc, for approximately $2.4 billion in cash. The acquisition bid values Alphawave shares at around 183 pence each. This strategic move is aimed at bolstering Qualcomm's capabilities in the artificial intelligence (AI) sector, diversifying its technological portfolio away from the slowing smartphone market. The deal remains subject to regulatory and shareholder approvals and is anticipated to conclude in the first quarter of 2026.

Broadcom, a key player in semiconductor technology and infrastructure software, recently announced a significant stock repurchase program worth up to $10 billion. This strategic move has drawn widespread attention, coinciding with a nearly 3% boost to the company’s stock during after-hours trading. Broadcom CEO Hock Tan emphasized that this decision reflects the company's confidence in its future, particularly its strong position in the fields of semiconductor development and artificial intelligence (AI)-driven infrastructure solutions.