Broadcom Announces $10 Billion Share Buyback Plan, Highlighting Confidence in AI-Related Investments

Broadcom announces new $10 billion share buyback plan

Broadcom said on Monday it was launching a new share buyback program of up to $10 billion, set to run through the end of the year, sending its shares up nearly 3% in extended trading. CEO Hock Tan said the move reflects confidence in Broadcom's semiconductor and infrastructure software franchises, particularly its position in artificial intelligence-related investments. Shares of Palo Alto, California-based Broadcom, which has a market value of about $724.76 billion, closed about 5% higher on Monday, snapping a two-day losing streak amid U.S. President Donald Trump's tariff announcement. Broadcom, which supplies semiconductors to Apple , last month forecast strong second-quarter revenue and hinted about new potential customers that could boost revenue in a highly competitive market. The chipmaker is seeing red-hot demand for its custom AI chips from cloud computing companies looking for an alternative to the costly processors designed by Nvidia.

Broadcom unveils $10B stock buyback program; shares rise afterhours By Investing.com

Investing.com -- Broadcom unveiled Monday a $10 billion stock buyback program amid strong cash flow generation and confidence in AI-led demand for its chips. Broadcom Inc (NASDAQ:AVGO) rose more than 3% in afterhours trading. "We are uniquely positioned in mission critical infrastructure software and enabling hyperscalers to drive innovation in generative AI into their expanding subscriber platforms," said Hock Tan, President and CEO of Broadcom. Under the plan, the company said it would repurchase up to $10 billion of its common stock through December 31, 2025.

Broadcom announces new $10 billion share buyback plan

(Reuters) -Broadcom said on Monday it was launching a new share buyback program of up to $10 billion, set to run through the end of the year, sending its shares up nearly 3% in extended trading. CEO Hock Tan said the move reflects confidence in Broadcom's semiconductor and infrastructure software franchises, particularly its position in artificial intelligence-related investments. Shares of Palo Alto, California-based Broadcom, which has a market value of about $724.76 billion, closed about 5% higher on Monday, snapping a two-day losing streak amid U.S. President Donald Trump's tariff announcement. Broadcom, which supplies semiconductors to Apple, last month forecast strong second-quarter revenue and hinted about new potential customers that could boost revenue in a highly competitive market. The chipmaker is seeing red-hot demand for its custom AI chips from cloud computing companies looking for an alternative to the costly processors designed by Nvidia . (Reporting by Jaspreet Singh in Bengaluru; Editing by Shinjini Ganguli and Maju Samuel)