With Qualcomm’s plan to acquire UK chipmaker Alphawave, the company is trying to expand its AI and data center capabilities and reduce reliance on smartphones.

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. The offer equates to about 183 pence per share for Alphawave,

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