Alphabet said on Friday it held nearly 3 million shares, or a stake worth $547.9 million, in chipmaker Qualcomm as of September.
Qualcomm shares rose more than 3% in premarket trading.
The Google parent has also increased its position in Elon Musk’s SpaceX to about 555 million shares from 551.2 million earlier.
Qualcomm earlier this week irked investors when it missed Wall Street expectations for quarterly smartphone chip sales due to weak demand, even though it forecast better-than-expected revenue for its nascent data-center segment.
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