With Qualcomm’s plan to acquire UK chipmaker Alphawave, the company is trying to expand its AI and data center capabilities and reduce reliance on smartphones.

U.S. chipmaker Qualcomm agreed to acquire Alphawave for about $2.4 billion on Monday, as it expands into the booming AI data center market, sending shares of the British semiconductor company surging more than 22%.

Qualcomm has acquired Alphawave Semi, a U.K.-based semiconductor company focused on high-speed data center connectivity, for around $2.4 billion.