LONDON (ShareCast) - (Sharecast News) - Alphawave IP surged on Tuesday after Qualcomm confirmed that it is considering making an offer for the company.
In a very brief statement, the US chipmaker said there can no certainty that any firm offer will be made, nor as to the terms on which any firm offer might be made.

Under takeover rules, Qualcomm has until the end of play on 29 April to either announce a firm intention to make an offer or walk away.

"A further announcement will be made if and when appropriate," it said.

The news came just hours after Reuters reported that SoftBank-owned chip tech provider Arm Holdings recently sought to acquire Alphawave.

The shares closed up 14.8% at 107.38p, having hit as high as 143.00p earlier in the session.

Danni Hewson, head of financial analysis at AJ Bell, said: "Perhaps the most thought-provoking news of the day proves that the world isn't standing still whilst it figures out what Mr Trump has in store.

"Shares in UK listed Alphawave rocketed on confirmation that US chipmaker Qualcomm is considering a bid. Qualcomm has been doubling down on AI innovation and bringing the UK company on board would enhance its own capabilities.

"Whilst the AI story has lost a little of its stardust over the past few months, there is still a hugely attractive business case for investing in the kind of tech that can improve productivity and drive further innovation.

"There's no guarantee that the talking stage will go any further, but if it does then it could set up one of the biggest deals on UK markets so far this year."

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