Qualcomm has entered into an agreement to acquire London-listed Alphawave IP Group Plc for a cash consideration of approximately $2.4 billion, with the aim of bolstering its artificial intelligence capabilities. In a joint statement released on Monday, the two companies revealed that the offer amounts to 183 pence per share of Alphawave, representing a 96% premium over the closing price on March 31, the last trading day prior to the announcement of negotiations. The transaction, which is contingent upon regulatory clearances and shareholder approvals, is anticipated to conclude in the first quarter of 2026.