Canada-based silicon chip designer Alphawave IP Group announced it’s planning to list on the London Stock Exchange with a $4.5b IPO. The company designs connectivity chips that allow for faster transfers of huge amounts of data. This sector that has seen booming demand due to the growing popularity of AI-enabled devices, robots, and self-driving vehicles.
Alphawave, which became a profitable company just a year after being founded, will compete with other chip developers such as veteran Nvidia (NVDA) and Bristol’s Graphcore. The firm is also set to open an R&D center in Cambridge (also known for being the birthplace of some of the UK’s biggest chip companies such as Arm and Infineon).
In case you were wondering, it’s not common for North American companies to list in Europe, though it’s usually the other way around as capital equity markets in the US are more bullish.