US powerhouse Qualcomm submits a takeover offer for London chip designer.
A London-based chip designer, often referred to as an “Arm wannabe,” has attracted a takeover bid from a larger U.S. competitor, causing significant losses for short-sellers who had bet against the stock since it debuted as part of the UK’s “class of 2021.” San Diego’s Qualcomm has expressed interest in acquiring Alphawave, causing shares of…