Billionaire Dai to Reap $237 Million Windfall From Qualcomm Deal

Weili Dai has built a career helping turn tech startup after tech startup into successful ventures. The serial entrepreneur is now poised to pocket a windfall from one of them: $237 million from the pending sale of Alphawave IP Group Plc to Qualcomm Inc.
Dai holds a 96.3 million-share stake in the London-listed semiconductor firm, making her its second-largest shareholder. Qualcomm agreed earlier this month to buy Alphawave for about $2.4 billion in cash, in a deal expected to close in the first quarter of next year.

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CNN

41 minutes ago

• CNN

How I used 7,000 Amex points to fly home from London this summer

CNN Underscored reviews financial products based on their overall value. We may receive a commission through our affiliate partners if you apply and are approved for a product, but our reporting is always independent and objective. This may impact how links appear on this site. This site does not include all financial companies or all available financial offers. Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit to learn more. Flying to Europe in the peak summer travel season can cost a fortune. Cash fares can skyrocket, and award availability is often limited. But with the right transfer bonus and a bit of flexibility, you can unlock serious value from your travel rewards. This summer, I flew one-way from London Heathrow (LHR) to San Francisco (SFO) for just 7,000 American Express Membership Rewards points, a fraction of what most travelers would expect to pay. The key? A 30% transfer bonus from Amex to Virgin Atlantic Flying Club, which brought the required 9,000 Flying Club points down to just 7,000 Amex points. Here's exactly how I did it — and how you might be able to replicate the strategy next time a bonus like this rolls around. Related article These are our favorite credit cards for Delta flyers in 2025A post shared by Kyle Olsen (@kyleolsen10) Before you redeem your Amex points, you'll need to earn points. Here's a look at several of the best Amex card offers right now, which you can transfer to Virgin Atlantic Flying Club. American Express® Gold Card: Earn 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases on your new Card in your first 6 months of Card Membership. The Platinum Card® from American Express: Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership. American Express® Business Gold Card: Earn 100,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership. The Business Platinum Card® from American Express: Limited Time Travel Offer: Earn 150,000 Membership Rewards® points after you spend $20,000 on eligible purchases on your Business Platinum Card® within the first 3 months of Card Membership. Plus, earn a $500 statement credit after you spend $2,500 on qualifying flights booked directly with airlines or through American Express Travel with your Business Platinum Card® within the first 3 months of Card Membership. You can earn one or both of these offers. Offer ends June 30, 2025. There are several different ways you can redeem your Amex points. While some card members may redeem their points directly in the Amex Travel Portal, they can also be transferred to various airline and hotel transfer partners, including Virgin Atlantic Flying Club. Virgin Atlantic Flying Club is one of the most underappreciated airline loyalty programs, especially for transatlantic flights in economy class. While major US carriers may charge 30,000 to 40,000 miles (or more) for a one-way flight between Europe and the US, Virgin Atlantic regularly prices economy award tickets from 6,000 points. I found availability from London to San Francisco for just 9,000 points plus £220 (around $300) in June, and it ended up being one of the best redemptions I've made all year. Credit card issuers like American Express Membership Rewards, Capital One Miles, Chase Ultimate Rewards and Citi ThankYou American Express often run limited-time transfer bonuses to their travel partners. In October 2024, there was a 30% bonus from Amex to Virgin Atlantic Flying Club. That meant every 1,000 Amex Membership Rewards points transferred would become 1,300 Flying Club points. I transferred 37,000 Amex points for various Virgin redemptions I had in mind, and those became 48,100 Flying Club points, thanks to the transfer bonus. In short, instead of needing to transfer the full 9,000 points, the transfer bonus would've only required me to transfer 7,000 Amex points, which would've yielded 9,100 Flying Club points after the 30% bonus. That was just enough to cover my flight. To put that in perspective, I got a 10-hour transatlantic flight for the equivalent of 7,000 Amex points, plus taxes and fees, which is a fantastic redemption, especially during peak travel season. I found that London to San Francisco flight by searching directly on Virgin Atlantic's website. That £220 (around $300) in taxes and fees is relatively high, as are all Virgin's fees on UK departures due to airport and fuel surcharges, but even with the cash spend factored in, this was an exceptional value. The process was simple: I located award availability on my preferred date. I transferred 7,000 Amex points to Virgin Atlantic Flying Club. Within minutes, the points posted, and I completed the booking. I flew in Virgin Atlantic Economy Classic, which includes the following. One 23-kilogram (50-pound) checked bag Standard seat selection at check-in Complimentary meals, drinks and entertainment The flight itself was smooth, and the service on board was friendly and efficient. While Economy Light fares are cheaper in cash, I appreciated the added benefits of Economy Classic, especially the included luggage. Even though this exact 30% transfer bonus has expired, Amex frequently offers new ones. Here's what to do if you want to replicate this redemption strategy. Monitor Amex transfer bonuses via your Membership Rewards account. Create a Virgin Atlantic Flying Club account (if you don't already have one). Search for award availability before transferring points. Remember: Amex transfers to Virgin Atlantic are instant but nonreversible. If you find a 9,000-point flight and a 30% bonus is active, you'll only need 7,000 Amex points. Otherwise, you'll need to transfer 9,000 Amex points, which is still a great deal. Using just 7,000 Amex points to fly from London to San Francisco was a smart, high-value redemption — and a reminder that timing matters in award travel. By combining a low-cost redemption with a limited-time transfer bonus, I got more than 8 cents per point in value, a rare feat for economy travel. If you're flexible with your travel plans and pay attention to transfer bonuses, redemptions like this are very possible. For business travelers, budget-conscious vacationers or anyone trying to stretch their points further, Virgin Atlantic Flying Club should be on your radar, especially when a points transfer bonus sweetens the deal. The following FAQs have been answered by CNN Underscored travel editor and credit card expert Kyle Olsen. How much are 100,000 Amex points worth for flights? How much are 100,000 Amex points worth for flights? 100,000 Amex Membership Rewards points are worth at least $1,000 when you redeem them for flights through Amex Travel, but you can get much more — up to $5,000 — by transferring to airline partners and booking premium cabin international flights. The value depends on how you redeem, but travel website The Points Guy values 100,000 Amex points at $2,000. Do Amex points ever expire? Do Amex points ever expire? Amex Membership Rewards points don't expire as long as you keep your account open, but you can lose them if you close all eligible cards, miss payments or violate program terms. We recommend keeping your account active and in good standing to retain your points. How do I use my Amex points most efficiently? How do I use my Amex points most efficiently? For the best value, transfer Amex points to airline partners to book premium cabin or international flights. Other options like hotel transfers, gift cards or statement credits usually offer less value. Booking through Amex Travel is easy, but it typically yields just 1 cent per point. CNN Underscored is your trusted source for credit card and travel rewards strategies because our editors don't just write about points; we use them. For this guide, travel editor and credit card expert Kyle Olsen shares his firsthand experience booking a real transatlantic flight using just 7,000 Amex points. Every detail is backed by real-world research, insider knowledge and a commitment to accuracy, so you can confidently apply these tips to your own travel plans. Click here for rates and fees of the American Express Gold card. Click here for rates and fees of the American Express Platinum card. Click here for rates and fees of the American Express Business Gold card. Click here for rates and fees of the American Express Business Platinum card. Editorial disclaimer: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

Yahoo

43 minutes ago

• Yahoo

Budget to entice companies to invest in major projects

A multi-million dollar innovation fund is expected to make Australia's most populous state a more attractive place to invest and start a business. The 2025/26 NSW budget, to be handed down on Tuesday, will allocate nearly $80 million in funding to make the state the best place to innovate, connect with investors and scale a business. The funding includes $38.5 million for Australia's largest technology and innovation hub, Tech Central, and $20 million for emerging technology commercialisation to help boost growth in the housing and energy sectors. In 2024, NSW accounted for 65 per cent of Australia venture capital investment, and is home to five out of eight "unicorn" companies, privately held companies valued at over $1 billion. Tuesday's budget will also include $17 million to set up an Investment Delivery Authority. The authority will be tasked with helping to accelerate approvals for major projects across all industries, including advanced technologies and energy. Major projects to be considered by the authority may include hotels, data centres, renewable energy projects and commercial developments. Too many major projects from the private sector were getting bogged down in red tape, Premier Chris Minns said. "Our state is open for business and this change will encourage more people to bring their best ideas to life in NSW, all backed by our government," he said. Treasurer Daniel Mookhey said the government was creating a way to address blockages, speed up the process and ensure NSW was properly open for business. "The Investment Delivery Authority is the turbocharger to drive economic growth across the state," he said.

Yahoo

44 minutes ago

• Yahoo

Amazon data centres to consume ‘as much electricity to power Burnley'

A complex of huge data centres being built by Amazon in Britain will consume as much electricity needed to power a town the size of Burnley, campaigners have claimed. The proposed data centres, near Houghton Regis in Bedfordshire, are projected to consume around 114.8 million kilowatt-hours (kWh) of electricity a year. This equivalent to the power consumed by more than 42,500 UK households, according to researchers at Global Action Plan, which is campaigning against the development. It exceeds the number of homes in Burnley, which stood at 41,955 after the most recent Census in 2021. Planning documents show the two data centres in the development will include 42 back-up diesel generators, each around 25 metres tall, that need to be fired up fortnightly to check they are working. It is estimated this will produce the same emissions as 1,079 homes heated by gas. The plans were lodged with Central Bedfordshire Council by Colliers Properties, a known partner of Amazon Web Services (AWS), the retail giant's cloud computing division. The documents name Amazon Data Services UK as the site's eventual operator. Known as Linmere Island, the project would sit on an empty 22-acre greenfield site. While the plans also include 140 solar panels, it is not clear how much power they will supply to the data centres. It comes amid growing pushback against a slew of 'hyperscale' data centre projects being lined up across Britain – a central part of the Prime Minister's strategy to boost economic growth – with campaigners raising concerns over their environmental impact. One complex near Blyth, Northumberland, is forecast to produce more greenhouse gas emissions than Birmingham Airport, which carries 12m passengers per year. Another in Elsham, Lincolnshire, is predicted to generate five times the carbon dioxide of the same airport. It underscores the challenge faced by Sir Keir Starmer as he battles to restore economic growth while hitting net zero targets. Data centres are vital to artificial intelligence, and were classed as critical national infrastructure last September, with Sir Keir establishing 'AI growth zones' to speed up such building projects. AWS set out plans last September to invest £8bn in the UK to build data centres. At the time, Tanuja Randery of AWS, said its strategy would help meet the 'growing needs' of its customers and 'support the transformation of the UK's digital economy'. The investment was hailed by Rachel Reeves, the Chancellor, as 'the start of the economic revival', and that it showed 'Britain is a place to do business'. But such developments require vast amounts of energy that puts it at odds with the Government's mission to become net zero by 2050. It has prompted Matt Garman, chief executive of AWS, to urge the UK to increase its supply of nuclear energy for data centres in an interview with the BBC last month. There are also mounting concerns over the amount of water that some data centres require to keep their computer banks cool enough to function properly. Oliver Hayes, head of policy and campaigns at Global Action Plan, said: 'It's astonishing that communities are expected to like it or lump it when it comes to this wave of giant data centres. 'Amazon is opaque about how much of Houghton Regis' water it will suck up in order to cool the IT equipment, but given this one data centre will require as much electricity as a town the size of Burnley, we can assume the pressure on local water supplies will be intense – to say nothing of the noise and air pollution caused by fortnightly testing of its 42 backup diesel generators.' Amazon declined to comment. Sign in to access your portfolio