Qualcomm has acquired Alphawave Semi, a U.K.-based semiconductor company focused on high-speed data center connectivity, for around $2.4 billion.

Qualcomm on Monday said its $2.4 billion deal to acquire chip designer Alphawave Semi will “accelerate” the company’s expansion into the data center market.

Qualcomm Inc. has agreed to buy London-listed semiconductor company Alphawave IP Group Plc for about $2.4 billion in cash to expand its technology for artificial intelligence.