What Happened to Broadcom Inc.?
Broadcom Inc. (AVGO) has transformed from a semiconductor manufacturer with roots in Hewlett-Packard into a diversified global technology leader, primarily through aggressive strategic acquisitions. The company now specializes in semiconductor solutions and infrastructure software, with its recent growth significantly driven by its pivotal role in the artificial intelligence (AI) market and the integration of VMware.
Quick Answer
Broadcom Inc. (AVGO) is a leading global technology company that has strategically expanded its portfolio through major acquisitions, notably VMware in 2023. As of May 2026, Broadcom is a dominant force in AI infrastructure, supplying custom AI accelerators and high-speed networking solutions to hyperscalers, and continues to grow its high-margin infrastructure software business. The company reported strong financial results in Q1 FY2026, with AI semiconductor revenue more than doubling year-over-year, and recently announced a partnership with Samsung for a new Wi-Fi 8 and 5G fixed wireless access platform.
📊Key Facts
📅Complete Timeline13 events
Origins as part of Hewlett-Packard
Broadcom's lineage traces back to the semiconductor division of Hewlett-Packard.
Spun off as Avago Technologies
The semiconductor division was sold by Agilent Technologies (spun off from HP) to private equity firms, creating Avago Technologies.
Avago Technologies goes public (AVGO)
Avago Technologies completed its initial public offering, listing on NASDAQ under the ticker symbol AVGO.
Acquires Broadcom Corporation and renames
Avago Technologies acquired the original Broadcom Corporation for $37 billion and subsequently adopted the Broadcom Limited name, later Broadcom Inc., retaining the AVGO ticker.
Acquires CA Technologies
Broadcom acquired enterprise software company CA Technologies for $18.9 billion, marking a significant expansion into infrastructure software.
Acquires Symantec's enterprise security business
Broadcom purchased Symantec's enterprise security business for $10.7 billion, further diversifying its software portfolio into cybersecurity.
Finalizes VMware acquisition
Broadcom completed its $69 billion acquisition of cloud computing and virtualization software company VMware, significantly expanding its infrastructure software segment.
Market cap surpasses $1 trillion
Broadcom became the 12th company in history to achieve a market capitalization exceeding $1 trillion.
Reports strong Q4 FY2025 results driven by AI
Broadcom announced record Q4 FY2025 revenue of $18.0 billion, a 28% year-over-year increase, primarily fueled by a 74% surge in AI semiconductor revenue.
Q1 FY2026 results show accelerating AI growth
Broadcom reported Q1 FY2026 revenue of $19.31 billion and AI semiconductor revenue of $8.4 billion, up 106% year-over-year, with projections for Q2 AI revenue to reach $10.7 billion.
Faces EU antitrust complaint over VMware licensing
The Cloud Infrastructure Service Providers in Europe (CISPE) trade group filed a formal complaint with the European Commission, alleging Broadcom's VMware licensing practices infringed EU antitrust rules.
Market cap surpasses $2 trillion
Broadcom became the sixth company in history to surpass a $2 trillion market capitalization.
Partners with Samsung on Wi-Fi 8 and 5G FWA platform
Broadcom announced a strategic partnership with Samsung Electronics to introduce a new broadband-focused reference platform combining Wi-Fi 8 SoC with Samsung's 5G Modem for fixed wireless access.
🔍Deep Dive Analysis
Broadcom Inc.'s journey to becoming a technology powerhouse began with its origins in Hewlett-Packard's semiconductor division in 1961, which later became Avago Technologies in 2005. Avago went public in 2009 under the ticker AVGO and embarked on an aggressive acquisition strategy. A pivotal moment was the 2016 acquisition of the original Broadcom Corporation for $37 billion, after which the combined entity adopted the Broadcom Inc. name, retaining the AVGO ticker.
Under the leadership of CEO Hock Tan, Broadcom continued its expansion into infrastructure software, acquiring CA Technologies for $18.9 billion in 2018 and Symantec's enterprise security business for $10.7 billion in 2019. These moves diversified its revenue streams beyond cyclical hardware. The most significant acquisition in recent history was VMware, a virtualization and cloud computing software vendor, for $69 billion, which was finalized in November 2023. This acquisition fundamentally reshaped Broadcom's business model, significantly bolstering its infrastructure software segment and transitioning VMware's licensing to a subscription-based model, aiming for stable, recurring revenue.
The period from 2023 to 2026 has seen Broadcom emerge as a critical player in the burgeoning artificial intelligence (AI) market. The company is a key supplier of custom AI accelerators (ASICs/XPUs) for major hyperscalers like Google, Meta, OpenAI, and Anthropic, alongside its high-speed Ethernet networking chips (Tomahawk and Jericho series) essential for large-scale AI data centers. This strong position in AI has been a primary driver of its financial performance, with AI semiconductor revenue more than doubling year-over-year in Q1 fiscal year 2026.
As of May 2026, Broadcom continues to demonstrate robust financial health and strategic expansion. The company reported record Q1 FY2026 revenue of $19.31 billion, with AI semiconductor revenue reaching $8.4 billion. Broadcom anticipates further acceleration, projecting Q2 FY2026 AI revenue to hit approximately $10.7 billion. The company's market capitalization surpassed $1 trillion in December 2024 and reached $2 trillion in April 2026, reflecting its significant market influence. However, the VMware acquisition has also drawn regulatory scrutiny, with European cloud providers filing an antitrust complaint in March 2026 over alleged anti-competitive licensing practices. Despite these challenges, Broadcom remains focused on innovation, as evidenced by its May 2026 partnership with Samsung to develop a Wi-Fi 8 and 5G fixed wireless access platform.
What If...?
Explore alternate histories. What if Broadcom Inc. made different choices?