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Paul Jacobs speaks during a keynote address. Photo: David Becker / Getty Images

Qualcomm raised its offer for Dutch chipmaker NXP Semiconductors on Tuesday, possibly making that deal more likely to happen and a hostile takeover from Broadcom less likely.

The bottom line: This is the highest-stakes poker game in town and Qualcomm just significantly increased the pot.

In the wake of Qualcomm's sweetened NXP bid, Broadcom said it is "evaluating its options."

"By raising its offer for NXP from $110 per NXP share to $127.50 per NXP share, Qualcomm’s board of directors and management have transferred $4.10 per Qualcomm share from Qualcomm stockholders to NXP stockholders, representing approximately $6.2 billion of value. This revised price for NXP is well beyond what Qualcomm has repeatedly characterized as a “full and fair” price."
— Broadcom

Qualcomm's take: Qualcomm said it has convinced shareholders controlling 28% of NXP stock to tender their shares at the revised price.

"NXP is a highly strategic and attractive acquisition for Qualcomm that enhances the value of our leading 5G technologies.  We also believe the revised agreement provides certainty for both Qualcomm and NXP stockholders."
— Qualcomm chairman Paul Jacobs

Go deeper

It's harder to fill the Cabinet

Data: Chamberlain, 2020, "United States of America Cabinet Appointments Dataset" Chart: Will Chase/Axios

It's harder now for presidents to win Senate confirmation for their Cabinet picks, an Axios data analysis of votes for and against nominees found.

Why it matters: It's not just Neera Tanden. The trend is a product of growing polarization, rougher political discourse and slimming Senate majorities, experts say. It means some of the nation's most vital federal agencies go without a leader and the legislative authority that comes with one.

Exclusive: Hundreds of kids held in Border Patrol stations

Migrants cross the Rio Bravo to get to El Paso, Texas. Photo: Herika Martinez/AFP via Getty Images

More than 700 children who crossed from Mexico into the United States without their parents were in Border Patrol custody as of Sunday, according to an internal Customs and Border Protection document obtained by Axios.

Why it matters: The current backup is yet another sign of a brewing crisis for President Biden — and a worsening dilemma for these vulnerable children. Biden is finding it's easier to talk about preventing warehousing kids at the southern border than solving the problem.

Pompeo plots 2024 power play

Mike Pompeo in Washington on Feb. 12. Photo: Samuel Corum/Getty Images

Mike Pompeo has quickly reentered the political fray, raising money for Republicans, addressing key political gatherings and joining an advocacy group run by Donald Trump's former lawyer.

Why it matters: The former secretary of state is widely considered a potential 2024 presidential contender. His professional moves this week indicate he's working to keep his name in the headlines and bolster a political brand built largely on foreign policies easily contrasted with the Biden White House.