Qualcomm Stock Is Rising Monday: What's Going On?

QUALCOMM Inc QCOM shares are trading higher Monday after the company announced it reached an agreement to acquire Alphawave Semi for $2.4 billion.

What To Know: Qualcomm will acquire Alphawave at an implied enterprise value of approximately $2.4 billion. The company said that Alphawave's assets will help accelerate its push into the data center market, where demand for low-power, high-performance chips is rising alongside growth in AI workloads.

Qualcomm noted that the acquisition supports its strategy to expand its custom processor business and capitalize on the transition to AI-driven compute infrastructure.

The $2.4 billion deal will be completed through Aqua Acquisition Sub LLC, a subsidiary of Qualcomm, and is expected to close in the first quarter of 2026.

“Qualcomm’s advanced custom processors are a natural fit for data center workloads. The combined teams share the goal of building advanced technology solutions and enabling next-level connected computing performance across a wide array of high growth areas, including data center infrastructure,” said Cristiano Amon, president and CEO of Qualcomm.

The acquisition remains subject to customary closing conditions, including regulatory approvals and shareholder and court sign-offs in the U.K.

QCOM Price Action: At the time of writing, Qualcomm shares were up 4.32% at $155.70, according to data from Benzinga Pro.

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