Chip designer Alphawave sees stock soar on Qualcomm takeover agreement

Published connected 09/06/2025 - 12:04 GMT+2•Updated 12:10

Shares successful spot designer Alphawave roseate sharply connected Monday aft nan British-Canadian patient agreed to beryllium acquired by US rival Qualcomm for astir $2.4bn (€2.1bn) successful cash.

As of astir 9.45am London time, Alphawave’s banal had risen astir 23% successful regular trading connected nan LSE.

Qualcomm’s connection values each stock astatine 183p, a 96% premium connected nan closing value seen connected 31 March, nan last time earlier Qualcomm and Alphawave announced they were holding discussions.

The $2.4bn valuation is still half of nan full worthy attributed to Alphawave erstwhile it launched an IPO successful 2021.

At its banal marketplace debut, Alphawave shares were worthy 410p each and nan group was weighted astatine £3.1bn (€2.7bn), though nan patient has mostly traded good beneath this level since its IPO.

The woody is expected to adjacent successful nan first 3 months of 2026, taxable to shareholder and regulatory approval.

Alphawave designs semiconductor exertion for information centres and AI applications, frankincense providing Qualcomm pinch an opportunity to diversify distant from smartphone components. 

“Qualcomm’s acquisition of Alphawave Semi represents a important milestone for america and an opportunity for our business to subordinate forces pinch a respected manufacture leader and thrust worth to our customers,” said Tony Pialis, CEO of Alphawave Semi.

“By combining our resources and expertise, we will beryllium well-positioned to grow our merchandise offerings, scope a broader customer base, and heighten our technological capabilities,” he added.

Cristiano Amon, CEO of Qualcomm, commented connected nan deal: “The mixed teams stock nan extremity of building precocious exertion solutions and enabling next-level connected computing capacity crossed a wide array of precocious maturation areas, including information halfway infrastructure.”

Alphawave said its board would unanimously counsel shareholders to ballot successful favour of nan takeover.

For nan woody to spell ahead, it would require a greenish ray from investors representing 75% of shares.

The takeover raises concerns astir nan attractiveness of listing successful nan UK, peculiarly aft different high-profile departures from nan LSE. 

Food-delivery work Deliveroo and cybersecurity and AI patient Darktrace person some agreed to beryllium acquired by US firms. The fintech Wise besides announced past week that it would beryllium moving its superior listing to nan US.