'Broadcom' Director Purchases Millions in Company Stock... Initiates $2.5 Billion Bond Buyback

Broadcom Inc. (NASDAQ: AVGO) disclosed on June 11 that director Harry L. You purchased 1,000 shares of the company’s common stock on the open market at approximately $373.57 per share, for a total of about $373,570. As a result of this transaction, You’s direct holdings rose to 38,466 shares, including 864 restricted stock units, representing roughly $14.36 million in value based on the reported price (approximately KRW 190 billion). On the same day, Broadcom announced it had launched a cash tender offer for up to $2.5 billion (approximately KRW 3.4 trillion) of senior notes across various maturities.

Broadcom also recently partnered with Apollo and Blackstone to establish a strategic platform targeting the deployment of more than 20 gigawatts of AI infrastructure worldwide, pledging billions of dollars toward long-term AI infrastructure investments. In its second-quarter earnings report, AI semiconductor revenue surged, driving record results, but a forward outlook that fell short of market expectations led to a market-cap decline of over $400 billion in a short span, increasing the stock’s volatility.

Headquartered in Palo Alto, California, Broadcom is a global semiconductor and infrastructure-software company that supplies data-center networking chips, custom AI accelerators and VMware-based cloud software. Through major deals—most notably its 2016 merger with the original Broadcom Corporation and the 2023 acquisition of VMware—the company has expanded its portfolio and solidified its position as a leading AI and cloud-infrastructure play among the top Nasdaq-listed firms.