Qualcomm has expressed an interest in acquiring UK chip designer Alphawave Semi.

According to a filing with the London Stock Exchange, the chipmaker confirmed that it is “considering making an offer to acquire the entire issued, and to be issued, share capital of Alphawave.”

The company now has 28 days to decide whether it wishes to make an offer however, the filing noted: “There can be no certainty that any firm offer will be made, nor as to the terms on which any firm offer might be made.”

Separately this week, Qualcomm acquired MovianAI – the generative AI arm of Vietnamese startup VinAI – for an undisclosed amount. It marks Qualcomm’s second purchase of the year, with the chipmaker acquiring San Jose-based Edge Impulse, an AI and IoT company, in March.

Qualcomm’s interest in Alphawave follows a report from Reuters earlier this week that Arm had explored the prospect of acquiring Alphawave, but decided not to move forward with the purchase after initial discussions with the company.

Arm had reportedly been interested in Alphawave’s SerDes (Serializer/Deserializer) IP, technology used to reduce the number of inputs and outputs on an ASIC or FPGA.

Earlier this week, Lightmatter announced that its new Passage L200 optical interconnect would integrate with Alphawave Semi’s latest chiplet technology portfolio, with Alphawave offering the IP for the accompanying XPU/Switch die royalty-free.