Home > Industry > Finance > Broadcom To Scrap Qualcomm Bid After Trump Block

Broadcom To Scrap Qualcomm Bid After Trump Block

Broadcom will withdraw its Qualcomm bid after US President Donald Trump blocked the transaction via executive order earlier this week.

The Wall Street Journal reports the company is still planning redomicile to the US despite the blocking from the President. The company announced it will redomicile beginning in April, a month earlier than it originally planned.

The Singapore-based company also withdrew its list of directors that were nominated for election to Qualcomm’s board.

The WSJ says half of Broadcom’s employees work in the US.

Broadcom has also pledged to invest US$bn annually in research and engineering and US$6bn in manufacturing.

Trump’s reason for blocking the US$117m deal was “national security risks”. He blocked the deal just hours after speaking with Hock Tan, Broadcom’s CEO at the Pentagon, who was trying to save the deal.

The US Treasury Department (which leads the Committee on Foreign Investment in the US) claims the Broadcom/Qualcomm threatens Qualcomm’s future leadership within the next generation of wireless technology.

The US government is reportedly concerned Broadcomm could cut R&D investment, thereby increasing the likelihood of Asian companies rising to dominant supplier status.

 



You may also like
Amazon Announces $10 Billion AI Data Centre Investment in North Carolina
Temu’s US Daily Users Plummet 58% Following End of Tariff-Free Shipping Loophole
Qualcomm Snapdragon X2 Elite Leak Teases 18-Core Powerhouse with 64GB RAM
Apple iPhone Modems Are Inferior Claims Qualcomm After Extensive Testing
Netflix Secures Global Rights to Sesame Street Amid Threats to Public Funding

Popular Posts

IFA 2025 Introduces Enhanced Travel and Accommodation Services for Industry Visitors
Latest News
/
/
Slyp Launches AI Loyalty Tools to Tackle Customer Engagement Fatigue
Latest News
/
/
Disney and Universal Sue Midjourney for AI Copyright Infringement in Major Hollywood Legal Challenge
Latest News
/
/
Samsung Galaxy Z Flip 7 & Flip 7 FE Leak Ahead of Launch
Latest News
/
/
LG Made In The USA Strategy Could Push Up Prices In OZ
Latest News
/
/

Digital Magazines

Recent Post

IFA 2025 Introduces Enhanced Travel and Accommodation Services for Industry Visitors
Latest News
/
//
Comments are Off
IFA Berlin has announced comprehensive travel and accommodation packages for trade visitors, exhibitors, and media attending the world’s largest home...
Read More