QUALCOMM Incorporated (NASDAQ:QCOM) secures approval from the High Court of Justice in England for the acquisition of Alphawave IP Group plc, paving the way for its subsidiary to acquire all issued shares. The $2.4 billion deal accelerates QUALCOMM’s expansion into data centers, leveraging Alphawave’s expertise in high-speed wired connectivity and compute technologies.

Alphawave Semi’s acquisition by QUALCOMM aims to enhance product offerings, broaden customer base, and boost technological capabilities in AI compute and connectivity solutions. Cantor Fitzgerald raises Qualcomm’s price target to $185, anticipating growth in AI-driven demand across compute, networking, memory, and equipment. QUALCOMM powers connectivity through Snapdragon processors, modems, and RF systems for various devices.

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Read more at Yahoo Finance: England High Court Sanctions QUALCOMM Incorporated (QCOM)’s Alphawave IP Group Acquisition