Qualcomm to acquire Alphawave for $2.4B
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Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. Monday's moves include a billion-dollar AI buy, a skincare play, and a massive crypto bet. Thanks for joining us today. It's June 9th. I'm Julie Morgan.

Qualcomm is acquiring British semiconductor company AlphaWave IP for about $2.4 billion 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 pre-market 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 one time to operate efficiently.

More M&A news to tell you about. L'Oreal has acquired a majority stake in the British skincare brand, Medicaid. The company focuses on vitamin A-based anti-aging creams and serums. Medicaid is recognized for its professional origins and omni-channel sales strategy, with a growing presence in both the U.S. and Europe. The

The deal was made with Medicaid'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 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 shares in Tokyo have risen more than 340% so far this year, as the firm follows through with its BTC accumulation plan. Now for a look at a few other articles that are trending on Seeking Alpha at this early hour. China's trade surplus widens amid weaker exports and deeper import slump.

IonQ to acquire Oxford Ionics for $1.075 billion in a cash-in-stock deal. And U.S. solar manufacturing surges, but installations are set to decline over the next five years.

On our Catalyst Watch for the Day, the first one, you guessed it, Apple will hold its Worldwide Developers Conference event in Cupertino, California. The event is expected to feature major announcements and a first look at new updates for its operating systems.

Cisco 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. And Databricks Data and AI Summit will feature talks from top executives from Databricks, as well as the CEOs of JPMorgan Chase, Anthropic, and Microsoft.

On Wall Street at this early hour, Dow, S&P and Nasdaq futures are flat. Crude oil is up 0.1% at $64 a 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%.

and the market in Australia is closed today for a holiday. Joby Aviation and Archer Aviation are on our list of the biggest movers of the day pre-market. Joby and ACHR are up 11 percent, extending their gains on Monday after President Trump signed an executive order to boost American development, commercialization, and export of drones.

On today's economic calendar at 10 a.m., wholesale inventories. That's it for today's Wall Street Breakfast. Thanks for listening. To take full advantage of Seeking Alpha with coverage on significant stocks and ETFs, become a premium subscriber. Check out seekingalpha.com slash subscriptions. I'm your host, Julie Morgan. Go out and make it a great day.