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SIB H1 net profit $189m

The bank's total assets increased by $1.49 billion.

TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Qualcomm to Alphawave for $2.4 bn

AI has already been driving investments in tangible infrastructure, including chips, servers and data centers. (AFP)
  • Last week, UK fintech Wise, specializing in international money transfers, said it plans to shift its primary listing from London to New York.
  • For California-based Qualcomm, the acquisition will help boost its AI infrastructure amid soaring demand for the technology.

London, United Kingdom — US semiconductor group Qualcomm announced on Monday the planned acquisition of London-listed chip designer Alphawave for $2.4 billion, as it looks to expand into data centers for artificial intelligence.

The deal makes Alphawave the latest tech company to depart London, joining a growing number of firms exiting Britain’s financial center through mergers or by moving their listings to the US to attract greater investment.

Last week, UK fintech Wise, specializing in international money transfers, said it plans to shift its primary listing from London to New York.

For California-based Qualcomm, the acquisition will help boost its AI infrastructure amid soaring demand for the technology.

“The combined teams share the goal of building advanced technology solutions… across a wide array of high growth areas, including data center infrastructure,” Qualcomm chief executive Cristiano Amon said in a statement.

The deal is expected to close in the first quarter of 2026, subject to regulatory and shareholder approval.

The announcement sent Alphawave’s shares soaring more than 20 percent in London.