Alphabet discloses $548M stake in chipmaker Qualcomm

Alphabet disclosed a nearly $548 million stake in chipmaker Qualcomm through a regulatory filing, prompting a more than 3% rise in Qualcomm shares before the US market opened. The filing also showed that Alphabet increased its holding in SpaceX to roughly 555 million shares. The investment in Qualcomm comes as the chipmaker faces weak demand for smartphone chips while attempting to expand into data centre AI chips. Open article →