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☆ Broadcom falls on report Google discussed dropping firm as AI chip supplier
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +2 min

The report said Google's deliberations follow a standoff between the company and Broadcom over the price of the TPU chips. Broadcom, Google and Marvell did not immediately respond to Reuters' requests for comment. Broadcom is seen as the second-biggest winner from the generative AI boom after Nvidia (NVDA.O). Google co-designs its AI chips with Broadcom and tech giant has already lined up the semiconductor firm for its sixth generation processor, the analysts said. That push has accelerated this year after prices surged for Nvidia's H100, the chip that powers most generative AI apps, to nearly double its original cost of $20,000.

Persons: Dado Ruvic, Marvell, Hock Tan, Morgan, Kanjyik Ghosh, Aditya Soni, Savio D'Souza, Nivedita Bhattacharjee, Krishna Chandra Organizations: Broadcom, REUTERS, Google, Microsoft, Marvell Technology, Nvidia, Meta, Nvidia's, Thomson Locations: J.P, Bengaluru

☆ Broadcom's post-earnings pullback doesn't shift the fundamentals. It's a buying opportunity
▼ + stars: | 2023-08-31 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Excluding these AI-related sales, semiconductor sales have largely stabilized around the $6 billion level and management continues to think that a "soft landing" is still in the cards. In fact, networking revenue was up 20% versus the year ago period and now represents 40% of revenue at the company's semiconductor segment. Elsewhere within semiconductor solutions, wireless revenues (24% of segment revenue) were flat year-over-year, as was revenue for server storage connectivity (17% of segment revenue). Broadband sales (16% of segment revenue) moderated to 1% year-over-year growth following nine-consecutive quarters of double-digit growth. Industrial sales (about 3% of segment revenue) were down 3% year-over-year.

Persons: Hock Tan, Tan, Jim Cramer's, Jim Cramer, Jim, Broadcom Lucas Jackson Organizations: Semiconductor, Broadcom, Revenue, VMWare, Club, Management, Outlook Management, CNBC

☆ AI in focus: Here's what to look for when Salesforce and Broadcom report earnings
▼ + stars: | 2023-08-29 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +7 min

The earnings from Salesforce and Broadcom follow a rough patch for technology stocks that began in mid-July. .SPX AVGO,CRM 3M mountain The S & P 500's performance versus Broadcom and Salesforce over the past three months. Salesforce For the three months ended July 31, Wall Street expects Salesforce's revenue to jump more than 10% year-over-year, to $8.53 billion, according to Refinitiv. Broadcom's AI exposure currently falls into two primary buckets. While Broadcom's AI networking business is no doubt fast-growing, Vinh noted there are headwinds within other pockets of its wide-ranging semiconductor business, such as traditional enterprise networking and broadband.

Persons: Wednesday's, SPX, Scott Berg, Berg, Wells Fargo, —, Salesforce, Needham's Berg, Hock Tan, Bard chatbot, John Vinh, Bard, Vinh, Jim Cramer's, Jim Cramer, Jim, Mike Blake Organizations: Club, Broadcom, Wall, Needham &, CNBC, Salesforce, Google, Jericho, UBS Locations: Irvine , California

☆ Broadcom is planning drastic job cuts at VMware as its acquisition of the cloud company nears completion
▼ + stars: | 2023-08-03 | by ( Rosalie Chan | Alistair Barr | ) www.businessinsider.com time to read: +2 min

Broadcom is planning drastic cuts of VMware's non-engineering staff, sources told Insider. Broadcom is currently preparing to close a $61 billion acquisition of VMware. Broadcom is planning deep job cuts at VMware, focusing on non-engineering jobs, according to two sources familiar with the matter. Broadcom is currently preparing to close a $61 billion acquisition of VMware. VMware employees have been expecting layoffs once the deal closes, and Broadcom leadership previously told VMware staff that it wanted to make the company "lean and flat," as Insider previously reported.

Persons: Hock Tan, Tan Organizations: Broadcom, VMware, Employees, European Union, SEC, CA Technologies Locations: Broadcom's

☆ Broadcom is a best-in-class chip stock as A.I. drives earnings power, Bank of America says
▼ + stars: | 2023-06-07 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Broadcom continues to be a "best-in-class" buying opportunity as artificial intelligence drives earnings power, according to Bank of America. Analyst Vivek Arya reiterated a buy rating on Broadcom following a keynote address from CEO Hock Tan at Bank of America's Global Technology Conference. AVGO 1D mountain Broadcom shares 1-day Broadcom shares surged 41% this year. Arya highlighted the potential not only in Broadcom's semiconductors business, but also in its AI ethernet networking platform. "All-in, AI can help AVGO can drive roughly $47/$50+ in EPS by FY24/25E, and we see 5%-6% upside to long-term numbers of AI revenue targets are achieved (see latest June 1 earnings note)," the analyst said.

Persons: Vivek Arya, Hock Tan, Arya, — CNBC's Michael Bloom Organizations: Broadcom, Bank of America, Bank of America's Global Technology Conference

☆ Broadcom forecasts third-quarter revenue above estimates on AI boost
▼ + stars: | 2023-06-01 | by ( Tiyashi Datta | ) www.reuters.com time to read: +2 min

June 1 (Reuters) - Broadcom Inc (AVGO.O) forecast third-quarter revenue above market estimates on Thursday, as it benefits from massive corporate investments in AI-related technologies. Broadcom Chief Executive Hock Tan said generative AI could account for more than 25% of the company's semiconductor revenue in 2024. Broadcom supplies chips used in data centers for networking and specialized chips that speed up AI work. It released a new chip for wiring together supercomputers for AI work using networking technology in April. Broadcom forecast current-quarter revenue of about $8.85 billion, while analysts polled by Refinitiv are expecting revenue of $8.72 billion.

Persons: ChatGPT, Hock Tan, Tan, Kinngai Chan, Refinitiv, Chavi Mehta, Tiyashi Datta, Anil D'Silva Organizations: Broadcom Inc, Broadcom, Nvidia, Nvidia Corp, Revenue, Thomson Locations: San Jose , California, Bengaluru

☆ VMware employees are increasingly concerned over Broadcom's pending $61 billion acquisition, predicting spinouts of business units, layoffs, and lost customers
▼ + stars: | 2023-05-26 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +14 min

Broadcom and VMware announced the $61 billion deal last year and recently pushed back the deadline as it undergoes regulatory scrutiny. Insider spoke with one former and four current VMware employees about the changes they expect to face once they are owned by the chipmaker Broadcom. A VMware spokesperson said in a statement that after the deal closes, VMware customers will obtain "more choice and flexibility" in managing their IT needs, especially across multiple cloud-computing services. Executives leaving VMwareVMware has lost several key executives since the Broadcom deal was announced (including several defecting to VMware's archrival Nutanix). "Nonetheless, I've continued to see questions in press reports about whether we intend to raise prices on VMware products.

Persons: —, Sanjay Poonen, Patrick Morley, haven't, Robert Ruelas, EUC, Kit Colbert, hasn't, Zane Rowe, Tom Gillis, Mark Lohmeyer, Ajay Patel, Kal, Karen Egan, Tom Kellermann, Raghu Raghuram, Hock Tan, Colbert, Tan, Hock E, Lucas Jackson, I've Organizations: VMware, Employees, Broadcom, SEC, Carbon, Symantec, Workers, Tech, VMware hasn't, VMware Employees, VMware VMware, Nutanix, Raghuram, Reuters

☆ Broadcom offers VMware interoperability remedies to address EU concerns
▼ + stars: | 2023-05-17 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

BRUSSELS, May 17 (Reuters) - U.S. chipmaker Broadcom (AVGO.O) has offered interoperability remedies in an effort to address European Union antitrust concerns over its $61 billion VMware (VMW.N) bid, people familiar with the matter said. Broadcom submitted its proposal on Tuesday, a European Commission filing showed. The EU competition enforcer, which did not provide details in line with its policy, extended its deadline for a decision to July 17. Broadcom may restrict competition in some hardware components which interoperate with VMware's virtualisation software, the Commission warned the company last month as it laid out its concerns. "While we maintain that this deal does not present any competition issues, we have made a proposal to address fully the concerns expressed by the European Commission," said Broadcom.

☆ Broadcom offered remedies to address EU antitrust concerns over VMware deal -sources
▼ + stars: | 2023-05-17 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, May 17 (Reuters) - Broadcom (AVGO.O) has offered interoperability remedies in an attempt to address EU antitrust concerns about its $61 billion bid for VMware (VMW.N), people familiar with the matter said. Broadcom submitted its proposal on Tuesday, a European Commission filing showed on Wednesday. The EU competition enforcer, which did not provide details in line with its policy, extended its deadline for a decision to July 17. On Wednesday, Broadcom reiterated its aim of closing the VMware transaction in the 2023 fiscal year, and added it was making progress with various regulatory filings regarding this deal around the world. "While we maintain that this deal does not present any competition issues, we have made a proposal to address fully the concerns expressed by the European Commission," said Broadcom.

☆ EU antitrust regulators extend decision on Broadcom, VMware deal to June 26
▼ + stars: | 2023-05-12 | by ( ) www.reuters.com time to read: 1 min

BRUSSELS, May 12 (Reuters) - EU antitrust regulators extended on Friday their deadline for a decision on U.S. chipmaker Broadcom's (AVGO.O) proposed $61 billion bid for cloud computing firm VMware (VMW.N) by three days to June 26. The deadline was extended in agreement with the companies, a European Commission spokesperson said. Broadcom Chief Executive Hock Tan last week sought to convince the European Commission of the merits of the deal at a closed hearing. The company is expected to offer remedies in the coming days. Reporting by Foo Yun Chee, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ AI boost lifts Broadcom forecast amid lingering enterprise weakness
▼ + stars: | 2023-03-02 | by ( Chavi Mehta | ) www.reuters.com time to read: +2 min

[1/2] The Broadcom Limited company logo is shown outside one of their office complexes in Irvine, California, U.S., March 4, 2021. REUTERS/Mike BlakeMarch 2 (Reuters) - Broadcom Inc (AVGO.O) forecast second-quarter revenue above estimates on Thursday, as increased investments in artificial intelligence spur demand for its chips used in data centers. Broadcom, which supplies chips used in data centers for networking and specialized chips that speed up AI work, expects networking revenue to grow 20% in the current quarter. While analysts spotted green shoots in the AI space, they also saw weaknesses emerge in areas such as broadband and cloud spending. The chip designer expects current-quarter revenue to be about $8.7 billion, while analysts on average expect $8.59 billion, according to Refinitiv data.

Analysts were skeptical of the Broadcom acquisition from the startFrom the get-go, Broadcom's plan to buy VMware seemed far-fetched. Read more:Customers and employees tell Insider the worst is yet to comeWork at VMware quickly lost meaning for employees under the threat of Broadcom's impending acquisition. Meanwhile, VMware customers are starting to feel the ripple effects. Since the Broadcom deal was announced, VMware employees have reported "aggressive" recruiter outreach from giants like Amazon Web Services, Google, and IBM. They told Insider about their plans to use the buyout to get closer to VMware customers.

☆ Some VMware partners say they're optimistic about the $61 billion Broadcom buyout and see it as an opportunity to cozy up to customers who fear they'll get lost in the deal's fallout
▼ + stars: | 2022-09-01 | by ( Paayal Zaveri | Jessica Xing | Jacob E. Robbins | ) www.businessinsider.com time to read: +6 min

But some partners say they're optimistic and see an opportunity to cozy up to VMware customers. In fact, several VMware partners view the seismic buyout as an opportunity and hope to use it to their advantage. Even those who weren't as optimistic about Broadcom's takeover told Insider the 24-year-old company was in need of a shake-up. Why VMware partners are optimisticBefore the acquisition announcement, Broadcom told investors the firm was "totally focused on the priorities" of 600 top strategic accounts. "Broadcom is where good software goes to die," an employee from a VMware partner told Insider.

☆ Broadcom CEO makes surprise appearance at VMware's big conference amid customer and employee concerns about the $61 billion takeover deal
▼ + stars: | 2022-08-30 | by ( Paayal Zaveri | Jessica Xing | Jacob E. Robbins | ) www.businessinsider.com time to read: +4 min

VMware's conference for customers, employees, and partners kicked off this week in San Francisco. Broadcom CEO Hock Tan made a surprise appearance at VMware's big annual conference, VMware Explore, which kicked off this week in San Francisco. Prior to the acquisition announcement, Broadcom told investors the firm is "totally focused on the priorities" of 600 top strategic accounts. "What typically happens with acquisitions like this is that innovation stops," an IT professional for a smaller VMware customer in the oil industry told Insider at the conference. Several smaller customers told Insider they're worried that when the buyout closed, they may be forced to switch to bigger vendors like Microsoft, despite preferring VMware services.

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