Latest news with #HockTan


Time of India
4 days ago
- Business
- Time of India
Europe's CISPE challenges Broadcom's $69 billion VMware deal in EU court
European Union judges could review chipmaker Broadcom 's $69 billion acquisition of cloud computing firm VMWare , after an antitrust complaint opposed the bloc's approval of one of the biggest takeovers in the technology industry. The Cloud Infrastructure Services Providers in Europe, or CISPE, has filed a formal appeal before the European General Court seeking an annulment of the European Commission's approval of the deal, the organisation said on Thursday. Broadcom had wrapped up the purchase of VMWare in November 2023, after intense scrutiny from regulators globally forced the company to delay the closing date thrice. The European Commission's official summary of its approval decision was published in May, acknowledging that the acquisition posed significant risks to competition. "However, it failed to impose any conditions on Broadcom to prevent a concentration of dominance or to mitigate the potential abuse of such a position," CISPE said. CISPE said it has "consistently raised alarms" with the Commission over Broadcom's unfair software licensing practices, but no substantive action has been taken to support either European cloud service providers or their customers. VMware's dominance of software in the virtualisation market "means that unfair new licensing terms enforced by Broadcom affect almost every European organisation using cloud technology", said Francisco Mingorance, Secretary General of CISPE. A spokesperson for the European Commission said it is ready to defend its decisions in court. "Broadcom strongly disagrees with these allegations," a company spokesperson said, adding that the deal was approved after a "thorough merger review process, and we will uphold the commitments made to the Commission at that time." The deal, one of the biggest globally when announced in May 2022, was part of Broadcom CEO Hock Tan's efforts to boost the chipmaker's software business.


Hindustan Times
5 days ago
- Business
- Hindustan Times
Europe's CISPE challenges Broadcom's $69 billion VMware deal in EU court
July 24 - Europe's CISPE challenges Broadcom's $69 billion VMware deal in EU court European Union judges could review chipmaker Broadcom's $69 billion acquisition of cloud computing firm VMWare, after an antitrust complaint opposed the bloc's approval of one of the biggest takeovers in the technology industry. The Cloud Infrastructure Services Providers in Europe, or CISPE, has filed a formal appeal before the European General Court seeking an annulment of the European Commission's approval of the deal, the organisation said on Thursday. Broadcom had wrapped up the purchase of VMWare in November 2023, after intense scrutiny from regulators globally forced the company to delay the closing date thrice. The European Commission's official summary of its approval decision was published in May, acknowledging that the acquisition posed significant risks to competition. "However, it failed to impose any conditions on Broadcom to prevent a concentration of dominance or to mitigate the potential abuse of such a position," CISPE said. The European Commission did not immediately respond to a Reuters request for comment. CISPE said it has "consistently raised alarms" with the Commission over Broadcom's unfair software licensing practices, but no substantive action has been taken to support either European cloud service providers or their customers. VMware's dominance of software in the virtualisation market "means that unfair new licensing terms enforced by Broadcom affect almost every European organisation using cloud technology", said Francisco Mingorance, Secretary General of CISPE. "Broadcom strongly disagrees with these allegations," a company spokesperson said, adding that the deal was approved after a "thorough merger review process, and we will uphold the commitments made to the Commission at that time." The deal, one of the biggest globally when announced in May 2022, was part of Broadcom CEO Hock Tan's efforts to boost the chipmaker's software business. This article was generated from an automated news agency feed without modifications to text.
Yahoo
12-07-2025
- Business
- Yahoo
Broadcom (AVGO) Is ‘Firing on All Cylinders'—JPMorgan Sees Major AI Upside
Broadcom Inc. (NASDAQ:) is one of the . On July 9, JPMorgan analyst Harlan Sur reiterated an 'Overweight' rating on the stock with a $325.00 price target. The firm said that Broadcom is 'firing on all cylinders' following a meeting with Broadcom management. 'Yesterday, we hosted an investor group meeting with Broadcom's President and CEO, Hock Tan, CFO, Kirsten Spears, and VP of IR, Ji Yoo. The discussions centered around strong AI demand trends, which are driving strong growth in Broadcom's custom AI XPU business and driving demand for its high performance networking portfolio.' The firm highlighted its progress on product development, with its 2nm 3.5D AI XPU product tape-out on track for this year. Moreover, its first-generation AI XPU products for two leading prospect engagements, believed to be with Arm/Softbank and OpenAI, are also in the works. There are also some major dollar content capture opportunities in scale-up networking. JPMorgan said that the company seems to be experiencing a gradual 'U' shape recovery in its non-AI semiconductor business. This is reflected in current bookings and order inflection, expected to contribute to positive EPS revisions next year. Meanwhile, its VMware business is also likely to sustain strong growth until late 2026/2027, possibly attaining $20 billion in annualized revenues. There are gross margin headwinds from the AI XPU business, but semiconductor operating margins are likely to sustain expansion. Broadcom is a technology company uniquely positioned in the AI revolution owing to its custom chip offerings and networking assets. While we acknowledge the potential of AVGO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Sign in to access your portfolio
Yahoo
11-07-2025
- Business
- Yahoo
Broadcom (AVGO) Is ‘Firing on All Cylinders'—JPMorgan Sees Major AI Upside
Broadcom Inc. (NASDAQ:) is one of the . On July 9, JPMorgan analyst Harlan Sur reiterated an 'Overweight' rating on the stock with a $325.00 price target. The firm said that Broadcom is 'firing on all cylinders' following a meeting with Broadcom management. 'Yesterday, we hosted an investor group meeting with Broadcom's President and CEO, Hock Tan, CFO, Kirsten Spears, and VP of IR, Ji Yoo. The discussions centered around strong AI demand trends, which are driving strong growth in Broadcom's custom AI XPU business and driving demand for its high performance networking portfolio.' The firm highlighted its progress on product development, with its 2nm 3.5D AI XPU product tape-out on track for this year. Moreover, its first-generation AI XPU products for two leading prospect engagements, believed to be with Arm/Softbank and OpenAI, are also in the works. There are also some major dollar content capture opportunities in scale-up networking. JPMorgan said that the company seems to be experiencing a gradual 'U' shape recovery in its non-AI semiconductor business. This is reflected in current bookings and order inflection, expected to contribute to positive EPS revisions next year. Meanwhile, its VMware business is also likely to sustain strong growth until late 2026/2027, possibly attaining $20 billion in annualized revenues. There are gross margin headwinds from the AI XPU business, but semiconductor operating margins are likely to sustain expansion. Broadcom is a technology company uniquely positioned in the AI revolution owing to its custom chip offerings and networking assets. While we acknowledge the potential of AVGO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None.
Yahoo
27-06-2025
- Business
- Yahoo
Broadcom Inc. (AVGO) Is 'Smoking Hot,' Says Jim Cramer
Broadcom Inc. (NASDAQ:AVGO) is one of the . Broadcom Inc. (NASDAQ:AVGO) is one of the largest semiconductor design companies in the world. While Cramer had frequently discussed the stock in the first quarter, it appeared to have fallen off his radar more recently. Broadcom Inc. (NASDAQ:AVGO)'s shares have gained 14% year-to-date after having lost 37% by early April. The shares have benefited from the strong performance of other semiconductor firms which has indicated to them that the demand for AI chips continues to remain robust. Broadcom Inc. (NASDAQ:AVGO) is among the few companies in the world that is able to design custom AI chips to fill any gaps left by NVIDIA due to high prices or tight supply. Here is what Cramer said about the firm: 'You know there's a stock, it has 1.2 billion dollars of valuation. 1.2 trillion. And the trillion's still a lot. The company's called Braodcom and it just hit an all time high!. It's all time high. Now we should remember that there are companies out there that are smoking hot. Right now. And they are the leaders. A technician working at a magnified microscope, developing a new integrated circuit. In his earlier remarks about Broadcom Inc. (NASDAQ:AVGO), the CNBC host commented on the firm's CEO and share buybacks: 'Broadcom announced a $10 billion buyback to be finished by year-end by a CEO by the name of Hock Tan, who is just one of the greatest CEOs of our era. And this stock was only up $1.89. What that says is this is a horrible stock market, not a horrible company or a horrible stock. The market itself is just nauseous.' While we acknowledge the potential of AVGO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio