Broadcom joined the trillion-dollar market-cap group after acquiring VMware in 2023.
Broadcom completed its approximately $69 billion acquisition of VMware on November 22, 2023. The deal expanded Broadcom’s software business beyond its established semiconductor operations, adding VMware’s virtualization and cloud-computing products.
Broadcom’s roots trace back to semiconductor businesses associated with Hewlett-Packard and later Agilent Technologies. The modern company was formed in 2016 when Avago Technologies acquired Broadcom Corporation and adopted the Broadcom name.
Broadcom designs semiconductor and infrastructure-software products rather than manufacturing most chips in its own fabrication plants. Its portfolio includes components used in networking, broadband, storage, wireless communications, and data centers. A market capitalization milestone measures the stock-market value of the company, not the purchase price of VMware or Broadcom’s annual revenue.