logo
Qualcomm strengthens AI portfolio with US$2.4bil Alphawave deal

Qualcomm strengthens AI portfolio with US$2.4bil Alphawave deal

The Star3 days ago

FILE PHOTO: A smartphone with a displayed Qualcomm logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
U.S. 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.
U.S.-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. - Reuters

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

BAuto expects tough quarters moving forward
BAuto expects tough quarters moving forward

The Star

timean hour ago

  • The Star

BAuto expects tough quarters moving forward

The group's fourth-quarter net profit saw a 77% drop year-on-year to RM21.2mil. PETALING JAYA: Bermaz Auto Bhd (BAuto) anticipates its performance for the financial year ending April 30, 2026, to be challenging. For the fourth quarter of financial year ended April 30, 2025 (4Q25), the group's net profit saw a 77% drop year-on-year (y-o-y) to RM21.2mil or earnings per share of 1.82 sen. Revenue on the other hand fell by 44% y-o-y to RM528.65mil largely due to drop in sales volume from its Mazda and Kia domestic operations as they were mainly impacted by the continuous influx of Chinese-made vehicles into the market, which are competitively priced. For the financial year ended April 30, 2025, the group's net profit declined by 55% y-o-y to RM155.91mil or earnings per share of 13.35 sen. Revenue also decreased by 33% y-o-y to RM2.6bil. The company said the automotive sector is expected to register lower growth due to factors such as inflationary pressures, weaker global growth from uncertainties in geopolitical conflicts and outcomes of negotiations on trade tariffs imposed by the United States, which will have an adverse impact on the overall local economy. Moreover, the continuous influx of Chinese marque vehicles had also impacted the sales of other marques in the country. The group said the launching of new or facelifts models of its existing and new vehicle marques are still very much dependent on the market sentiments and economic conditions then. BAuto also said according to the Malaysian Automotive Association, the total industry volume (TIV) in April 2025 of 60,527 units was 16.8% lower (12,177 units) than in March 2025 (72,704 units) as a result of the short working month in April 2025 due to the Hari Raya festive holidays and high festive deliveries in March 2025. The y-o-y TIV for the first four months of 2025 was 248,730 units, a decline of 14,320 units (down by 5.4%) compared to the same period last year of 263,050 units. Meanwhile, in the Philippines, the Department of Finance had reported in May 2025 that the country's gross domestic product (GDP) registered a growth rate of 5.4% for the first quarter of calendar year 2025 (4Q24: 5.3%). The Philippines economic outlook for 2025 is expected to remain positive with an expected GDP growth rate of around 6.0% in the coming quarters. BAuto said the board has approved and declared a fourth interim dividend of 1.50 sen single-tier dividend per share in respect of the financial year ended April 30, 2025 (previous year's corresponding quarter ended April 30, 2024: 4.75 sen single-tier dividend per share and a special dividend of 7.00 sen single-tier dividend per share) to be payable on Aug 5, 2025. The entitlement date has been fixed on July 18, 2025.

Chin Hin to procure AAC machinery from Shanghai-listed Jiangsu Teeyer for its 3rd manufacturing plant
Chin Hin to procure AAC machinery from Shanghai-listed Jiangsu Teeyer for its 3rd manufacturing plant

Focus Malaysia

time6 hours ago

  • Focus Malaysia

Chin Hin to procure AAC machinery from Shanghai-listed Jiangsu Teeyer for its 3rd manufacturing plant

CHIN Hin Group Bhd, Malaysia's leading integrated constriction conglomerate, has inked a memorandum of understanding (MOU) with Jiangsu Teeyer Intelligent Equipment Co Ltd, a leading global provider of autoclaved aerated concrete (AAC) production systems listed on the Shanghai Stock Exchange. The MOU entered into through the group's wholly-owned subsidiary Starken AAC Sdn Bhd signifies Chin Hin's strategic expansion into its third AAC manufacturing facility which is set to be situated adjacent to the group's existing factory in Serendah, Selangor. Scheduled for full production by May 31 next year, the new facility will significantly elevate the Chim Hin's production capabilities by adding a capacity of over one million cubic metres per year. Listed on the Shanghai Stock Exchange with a RM3.2 mil market capitalisation, Teeyer is globally acclaimed for its expertise in AAC production systems. With over 35 years in the industry and having exported nearly 150 production lines to over 20 countries, Teeyer is recognised for pioneering technological advancements such as the MES system for precise production management and being the first Chinese company to localise AAC cutting machinery. Currently, Chin Hin's two existing AAC plants have a combined production capacity of about 1.2 million cubic metres. With the addition of this third facility, the group's total AAC production capacity will rise to over 2.2 million cubic metres annually, hence further consolidating its leadership in the building materials industry. 'This strategic partnership with Teeyer is a significant milestone for Chin Hin as it substantially enhances our production capabilities and strengthens our competitive edge in the market,' commented Chin Hin Group's CEO (Building Materials Division) Ng Wai Luen. 'Moreover, Teeyer's extensive global experience and technological expertise align perfectly with our growth strategy to meet rising demand for sustainable and high-quality building materials in Malaysia and beyond.' To-date, Chin Hin has continued its commitment to innovation and sustainable growth by reinforcing its leadership position in Malaysia's integrated building materials industry. This collaboration aligns with the group's on-going efforts to invest in advanced manufacturing capabilities, driving operational efficiency and responding to the increasing market demand for environmentally friendly construction materials. At the close of today's (June 12) market trading, Chin Hin Group was up 3 sen or 1.44% to RM2.12 with 245,600 shares traded, thus valuing the company at RM7.51 bil. – June 12, 2025

Temasek joins Microsoft, BlackRock and MGX to develop AI infrastructure
Temasek joins Microsoft, BlackRock and MGX to develop AI infrastructure

The Star

time6 hours ago

  • The Star

Temasek joins Microsoft, BlackRock and MGX to develop AI infrastructure

FILE PHOTO: Temasek logo is seen in this illustration taken November 30, 2022. REUTERS/Dado Ruvic/Illustration/ File Photo SINGAPORE (Reuters) -Temasek has joined a consortium backed by Microsoft, BlackRock and tech investment company MGX to invest and expand artificial intelligence infrastructure, according to BlackRock's investor day presentation slides on Thursday. The Singapore state investment company has joined AI Infrastructure Partnership, a group that also includes BlackRock's Global Infrastructure Partners, the slides showed. AIP, formed in September with a goal to initially invest more than $30 billion in AI-related projects, is one of the world's largest efforts to invest in data centres and energy facilities needed to power AI applications such as ChatGPT. It aims to mobilise up to $100 billion including debt financing for such investments, which will focus on the United States. Temasek's participation comes after the Kuwait Investment Authority joined AIP earlier in June. The sovereign wealth fund of Kuwait was the first non-founder financial anchor investor to join the consortium, which also counts partners including Nvidia and billionaire Elon Musk's xAI. "Temasek's investment in the AI Infrastructure Partnership reflects our focus on the big shifts and trends of the future," Ravi Lambah, Temasek's head of strategic initiatives, said in an email to Reuters. "AI is potentially the most transformative and impactful technology for all sectors and businesses," he added. Temasek did not disclose financial details of the investment. The global investment company had a net portfolio value of S$389 billion ($304 billion) as of March 31, 2024, according to its website. ($1 = 1.2804 Singapore dollars) (Reporting by Yantoultra Ngui; Editing by Muralikumar Anantharaman)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store