Qualcomm strengthens AI portfolio with $2.4 billion Alphawave deal
Live Events
US chipmaker Qualcomm on Monday agreed to acquire British semiconductor company Alphawave for about $2.4 billion as part of efforts to strengthen its artificial intelligence technology.Alphawave shareholders will receive 183 pence per share, a nearly 96% premium to the price immediately before Qualcomm disclosed its interest in the company. The shares jumped 22% in early London trade to just below the offer price.US-based firms have been snapping up British assets, taking advantage of a market that is plagued by comparatively weaker valuations and stunted growth.Alphawave, which designs and licenses semiconductor technology for data centers, networking and storage, had garnered takeover interest from Qualcomm and SoftBank-owned chip tech provider Arm in early April for its 'serdes' technology.The technology underpins the speed at which data is processed by chips - crucial for AI development - and serves as the foundation for Broadcom's and Marvell Technology's multibillion-dollar bespoke chip businesses.Arm walked away after initial discussions with Alphawave, Reuters exclusively reported in April citing sources.Qualcomm also tabled two alternative all-share offers to Alphawave's shareholders, after receiving multiple extensions from the UK's takeover panel to table a firm offer.The British company said it considers the terms of the cash offer to be fair and reasonable and intends to unanimously recommend it to its shareholders.Alphawave also completed the disposal of its stake in WiseWave, its joint venture with Chinese investment firm Wise Road Capital, to existing state shareholders on Monday.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Today
35 minutes ago
- India Today
Might go up: Trump signals hike in auto tariffs for more US production
U.S. President Donald Trump on Thursday warned he may soon hike auto tariffs, arguing that could prod carmakers to speed U.S. investments."I might go up with that tariff in the not-too-distant future," Trump said at a White House event. "The higher you go, the more likely it is they will build a plant here."Automakers have been pressing the White House to reduce the 25% tariffs Trump imposed on autos. The Detroit Three automakers have criticised a deal that would cut tariffs on British car imports but not on Canadian or Mexican Trump cited a series of recent investment announcements, including GM saying this week that it plans to invest $4 billion in three U.S. plants and move some SUV production from Mexico. He also noted a $21 billion Hyundai investment announced in March including a new U.S. steel plant."They wouldn't have invested 10 cents if we didn't have tariffs, including for manufacturing American steel, which is doing great," Trump said last month that cars assembled in Mexico and exported to the U.S. will face an average tariff of 15%, not 25% because Washington is giving automakers reductions for the value of U.S. are facing increasing cost pressures stemming from tariffs. In recent weeks, Ford Motor F.N and Subaru of America 7270.T have hiked prices on some models due to higher costs from Trump's tariffs. In May, Ford estimated tariffs would cost it about $1.5 billion in adjusted said last month it had a current tariff exposure of between $4 billion and $5 billion, including about $2 billion on the more affordable vehicles GM imports from South Korea, where it makes entry-level Chevrolet and Buick InMust Watch
Time of India
2 hours ago
- Time of India
Oil jumps & slips, dollar dips to lowest level in 3 years
Oil retreated from its surge over West Asia tensions as traders weigh the latest developments in the region against a risk-off mood triggered by renewed tariff threats from Washington. Tired of too many ads? go ad free now At the same time, the dollar fell to the weakest level in three years amid worries over the outlook for the US economy. The Bloomberg Dollar Spot Index slid as much as 0.8% on Thursday to the lowest level since April 2022. The euro jumped to the strongest since 2021, while the British pound advanced to a new three-year high. So far in 2025, the dollar is down more than 8% as investors build up bets that US President Donald Trump's trade and tax policies will weigh on the economy. The concern remains that the US could experience a spike in inflation and start sliding toward a recession amid Trump's sweeping tariffs on imports. This has investors poring over incoming economic data, especially on the labour market, to determine the path of rates in the US. Brent slipped near $69 a barrel after jumping 4.3% on Wednesday, the most since Oct, with signs the rally was overstretched. Crude shot up after Iran threatened to strike US bases if nuclear talks fell through and the US told some staff to depart the embassy in Iraq. The UK Navy issued a warning to ships sailing across the Strait of Hormuz, through which over a quarter of the world's oil travels. On the trade front, Trump said he intended to send letters to trading partners in the next one to two weeks setting unilateral tariff rates, ahead of a July 9 deadline to reimpose higher duties on dozens of economies. That blunted appetite for risk assets.
Time of India
2 hours ago
- Time of India
VPN apps spying for China: Your VPN might be spying for China: Watchdog flags 17 apps with hidden ties on Apple and Google stores
How are these VPNs tied to China? Why is Qihoo 360 a concern? ADVERTISEMENT Which VPN apps were flagged earlier? ADVERTISEMENT ADVERTISEMENT What are Apple and Google doing about it? FAQs Think your VPN is keeping you anonymous? Think again. A major watchdog report just revealed that 17 popular VPN apps available on Apple and Google stores might be quietly handing over your data with links pointing straight to to a report released on Thursday by the Technology Transparency Project, the firm involved may have discreet links to China, where the government can monitor all user report claims that 17 apps, six from Apple's App Store, four from Google Play Store, and seven from both, have hidden connections to China, as quoted in a report by NBC News.A new report by the Technology Transparency Project warns that 17 VPN apps, available on major app stores, may be secretly linked to Qihoo 360 , a Chinese cybersecurity firm under U.S. 360 is a firm sanctioned by the U.S. Commerce Department in 2020 for potential links to the Chinese military. While the apps don't explicitly name Qihoo, corporate filings and company records suggest they are operated by shell companies acquired by Qihoo in 2019, as per a are mainly utilized to safeguard a user's privacy by complicating a website's ability to identify its visitors, or to bypass censorship restrictions. However, if a VPN provider does not implement substantial measures to automatically and permanently erase its users' search histories, it is probable that the company will retain logs of its clients' online is especially significant if the company is Chinese, since national legislation requires that intelligence and law enforcement agencies can access any personal data stored there without a Katie Paul explained that VPNs carry unique risks since they reroute all of a user's internet activity through their servers. If those servers are controlled or accessed by Chinese-linked firms, it means user data, including sensitive work information and browsing habits, could end up in Beijing's Sherman, a senior fellow at the Atlantic Council focusing on data privacy, informed that utilizing a VPN owned by China would be equivalent to surrendering one's browsing history to Beijing, as per a report by NBC News. Experts fear user data could be accessed by Chinese authorities under China's broad surveillance TTP, a technology-oriented branch of the Campaign for Accountability, an investigative nonprofit aimed at uncovering "corruption, negligence, and unethical conduct," released a report on Chinese VPN applications on April 1. TTP reports that several of the VPNs are indirectly tied to Qihoo applications are all virtual private networks, or VPNs, enabling a user to route their internet traffic through a company's internet service. Names such as VPNify, Ostrich VPN, and Now VPN do not explicitly indicate any connections to China or Chinese ownership in the app Qihoo 360 isn't listed as the direct developer, many apps are operated by entities like Lemon Seed, Autumn Breeze, and Innovative Connecting all tied to Qihoo via Chinese and Cayman Islands quickly removed three apps purportedly connected to Qihoo 360: Thunder VPN, Snap VPN, and Signal Secure VPN. Turbo VPN and VPN Proxy Master, both accessible on the Google Play Store, along with three additional options provided by Google, remain availableThe findings raise important questions about who really controls these "free" VPN services and what happens to your data when you trust the wrong if it logs your data and shares it with third parties especially if it's tied to governments with wide surveillance all, but many free VPNs have vague ownership and poor privacy policies. Always research the company behind the app.
