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$1.65 trillion chip giant Broadcom cuts staff in units like sales and accounts

1. Broadcom laid off staff in sales and account management this week. 2. VMware, acquired in 2023, saw its workforce cut by half. 3. Broadcom benefits from AI demand, designing chips for new technology. 4. They signed a deal with OpenAI for custom AI accelerators.

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FAQ

Why Bullish?

Despite layoffs, Broadcom's strategic focus on AI and successful acquisitions may boost performance.

How important is it?

Layoffs indicate a shift in operational focus, crucial for long-term profitability and AI growth.

Why Long Term?

AI-related contracts and acquisitions will drive growth over several quarters, increasing valuation.

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