Qualcomm is boosting its position in the artificial intelligence space, with the acquisition of data center chip specialist Alphawave for $2.4 billion.

Qualcomm has agreed to acquire UK-based semiconductor company Alphawave Semi at an implied enterprise value of approximately $2.4bn. Alphawave Semi specialises in high-speed wired connectivity and compute technologies,

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