Broadcom Inc (NASDAQ:AVGO) recently announced major updates to its VMware Cloud Foundation (VCF), aiming to enhance digital innovation with faster infrastructure modernization, improved developer productivity and better cybersecurity at a low total cost of ownership.
The latest developments in VCF support customer needs by integrating enterprise-class computing, networking, storage, management and security across environments.
The new VCF Import functionality enables seamless integration of existing vSphere and vSAN environments into VCF, optimizing resources without the need for a complete rebuild.
This will significantly improve efficiency, reduce costs and accelerate time-to-value.
Analysts have highlighted Broadcom’s position as the world’s second-largest AI semiconductor supplier, trailing only Nvidia Corp (NASDAQ:NVDA).
They noted that the company’s dominant market share in the custom (ASIC) chip design market of approximately 55-60% is expected to grow at a compound annual growth rate (CAGR) of more than 20%, creating a $20 billion opportunity up to $30 billion.
Analysts predict that Broadcom will generate $11 to $12 billion in AI revenue by 2024, with further growth to $14 to $15 billion by 2025.
This optimism is fueled by major tech companies’ increasing focus on custom ASIC solutions for AI computing needs.
Price promotion: AVGO shares were trading 0.30% higher at $1,596.78 at last check on Tuesday.
Disclaimer: This content was produced in part using AI tools and was reviewed and published by Benzinga’s editorial staff.
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This article What’s going on with Broadcom stock on Tuesday? originally appeared on Benzinga.com
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