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Qualcomm (QCOM) to acquire Alphawave for $2.4B. (00:20) L’Oréal (OTCPK:LRLCF) acquires majority stake in British skincare brand Medik8. (01:04) Metaplanet (OTC:MTPLF) soars on $5.4B share offering plan to amass 210K Bitcoin by 2027. (01:39)
This is an abridged transcript.
Qualcomm (NASDAQ:QCOM) is acquiring British semiconductor company Alphawave IP (OTCPK:AWEVF) for about $2.4B to boost its AI technology portfolio.
Alphawave shareholders will get 183 pence per share. Shares of Alphawave soared about 23% in London, while Qualcomm’s stock was largely flat premarket on Monday.
Alphawave has Serializer-deserializer, also known as SerDes, a technology which decides how fast information can get onto and off a chip, which is crucial for AI because chatbots and other applications may need thousands of chips put together at once to operate efficiently.
L’Oréal (OTCPK:LRLCF) (OTCPK:LRLCY) has acquired a majority stake in the British skincare brand Medik8.
The company focuses on vitamin A-based anti-ageing creams and serums. Medik8 is recognized for its professional origins and omni-channel sales strategy, with a growing presence in both the US and Europe.
The deal was made with Medik8’s current owner, the UK-based private equity firm Inflexion, which will retain a minority shareholding as part of the transaction.
The financial terms have not been disclosed.
Metaplanet’s (OTC:MTPLF) Tokyo-listed shares jumped over 16% on Monday after the company announced plans to raise approximately $5.4 billion to expand its Bitcoin holdings, which are already valued at nearly $1 billion.
The company aims to hold over 210,000 BTC by 2027, viewing it as a hedge against Japan’s economic challenges.
Metaplanet’s (OTC:MTPLF) shares in Tokyo have risen more than 340% so far this year as the firm follows through with its BTC accumulation plan.
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Apple (AAPL) will hold its WWDC event in Cupertino, California. The event is expected to feature major announcements and a first look at new updates for iOS, iPadOS, macOS, watchOS, tvOS, and visionOS.
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Cisco (CSCO) holds its flagship annual conference over a four-day period. Keynote presentations include talks from top executives, including CEO Chuck Robbins and other senior leaders, focusing on AI, cybersecurity, networking, and cloud solutions.
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Databricks Data + AI Summit will feature talks from top executives from Databricks, JPMorgan Chase (JPM) CEO Jamie Dimon, Anthropic CEO Dario Amodei, and Microsoft (MSFT) CEO Satya Nadella.
Now let’s take a look at the markets ahead of the opening bell. Dow, S&P and Nasdaq futures are flat. Crude oil is up 0.1% at $64/barrel. Bitcoin is up 1% at $106,000. Gold is up 0.3% at $3,321.
The FTSE 100 is down 0.1% and the DAX is down 0.5%. The market in Australia is closed for a holiday.
The biggest movers for the day premarket: Joby Aviation (NYSE:JOBY) and Archer Aviation (NYSE:ACHR) +11% – Air mobility stocks extended gains Monday after President Donald Trump signed an executive order to boost American development, commercialization, and export of drones.
On today’s economic calendar:
Editor’s Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.