Broadcom

“Hocktan is one of the all-time great CEOs in business history. Broadcom's is a premier brand. It's the number one design firm in semiconductors.”

“When I was at Broadcom, I joined them and there were a thousand people, four hundred million in revenue. And the goal was to scale. And we, in the 11 years I was there, grew to 10,000 employees and 8.6 billion in revenue, did 52 mergers and acquisitions.”

“Playbook is get it defined, get it working consistently and reliably in such a way that you can now replicate it, and then go out and replicate it multiple times, and then every time look for ways to improve what you're doing. Make that improvement, and then m…”

“The biggest lessons is each size you are as you grow requires a different behavior from the company. When you're 10 people, It's a network of us just talking to each other. I need very little processor systems. It's smart people just doing the right thing. You…”

“So, so Gwen was to Elon what Henry was to Nick at Broadcon. Like, Nick was the aggressive, make it happen, drive people to the very last ounce of juice they had, and Henry was pick up the mess that gets created, help people figure out really what they're tryin…”

“Ken built the operating system that helped scale SpaceX from hundreds of people to thousands of people and did the same thing at Broadcom in like the eighties.”

“When I was at Broadcom, I joined them and there were a thousand people, four hundred million in revenue. And the goal was to scale. And we, in the 11 years I was there, grew to 10,000 employees and 8.6 billion in revenue, did 52 mergers and acquisitions.”

“I mean, the chip Jalapeno launched. Designed with Broadcom. Jalapeno is purpose-built for LLM workloads, powering ChatGPG codex, API, future agentic products.”

“But we also now have chips in the pipeline from AMD. Cerebrus is already online. It's been an incredible low latency chip. Great for devs, for example, that want real time coding. And there's our own chip that we're working on with Broadcom.”

“Within the Western AI world, Within data centers that need being built, whether they're being built by CoreWeave, XAI, Amazon, Google, NVIDIA's AI business is growing faster than Broadcoms.”

“I do think at some point, Sandisk and Nebius and Core, we've all have to crash and Marvell and even Broadcom. At some point they have to crash at some level because they always, I think AI can grow infinite. Like we all approach the singularity, but eventually…”

“So last month, you know, we signed a five gigawatt deal with Google and with Broadcom for TPUs starting in twenty-twenty-seven.”

“Avago, as an example, is growing almost 40%, right, Avago Broadcom, and it's trading at a cheaper multiple of gap earnings.”

“Yeah, so, so for the longest time Google's had, ah, one main line of TPUs, right? All made by Broadcom, and then sort of next year they've diverged it, right? Where Broadcom makes a TPU, ah, and MediaTek makes a TPU. These two TPUs are focused at different thi…”

“Why is Entropic buying chips from Broadcom? Answer. They don't want to pay 75% gross margins to Nvidia.”

“I still think whatever hits Oracle and open AI will hit a Broadcom and a Google, at least in the, in terms of how people are pricing in the infrastructure side of things.”

“Anthropic has ordered twenty-one billion dollars worth of TPUs to train to train large claws.”

“Even right now, five to 10 most valuable companies in the world are hardware companies. Apple, Nvidia, Broadcom, Tesla, TSMC.”

“And it's not, and by the way, it's going to be heterogeneous. Obviously, Jensen's super competitive. Lisa is going to come. You know, Hawk's going to produce things from Broadcom. We will all do our own. So, there's going to be a combination. So, you want to r…”

“As soon as you get to a point where there's some convergence on an architecture that's looks like it's stable and is revenue generating and developers are coming to sort of work on it and confirm that it is like the thing, then you can flip towards doing a cus…”

“Is, if you're just a rapper around Broadcom, Then you've got a monopoly that's gonna be a very predatory one. And so, one of the big reasons where Cisco is super relevant is you don't just have a Broadcom world with people just wrapping Broadcom, that their sy…”

“Is that it is the only trillion dollar company that nobody talks about. Everybody knows Nvidia. Everybody knows Amazon Meta, but Broadcom is a 1.12 trillion dollar business.”

“Well, what's really interesting is that in the last five years, the market cap's grown by eight X, Nvidia's grown by 20 X, but, you know, Intel over the last five years is what, down 70%?”

“If you look at Broadcom, Qualcomm, they're all, you know, fabulous chip. They don't have any manufacturing. The guys who have manufacturing are struggling.”

“Google actually did this alongside Broadcom you know, and they did it before Nvidia, right? You know, today everyone's freaking out about, or not freaking out, but like everyone's like very excited about Nvidia's Blackwell system, right? It is a rack Of GPUs. …”

“Broadcom does have multiple custom ASIC wins, right? It's not just Google here. Meta's, Meta's ramping up mostly still for recommendation systems, but their custom chips are gonna get better. You know, there's other players like OpenAI who are making a chip, r…”

“Broadcom is making a Competitors to that, that they will cede to the market, right? Multiple companies will be using that. Not just, you know, AMD will be using that competitor to NVSwitch, but they're not making it themselves because they don't have the skill…”

“The plans for hyperscalers are pretty firm on, they're gonna spend a crap load more next year, right? And therefore, the ecosystem of networking players, of ASIC vendors, of systems vendors is gonna do well, whether it be NVIDIA or Marvell or Broadcom or AMD o…”

“I think if you look at the actual track record it, you know, this is probably, you know, unfortunately, a negative on, on the FTC environment, but it does seem hyper targeted at four or five companies. You know, Splunk was acquired for thirty billion dollars b…”

“Because while Google has to work with Broadcom to be able to bring TPUs into the world, Amazon is working with the fabs directly.”

“There's three people who I think are just the best. Warren Buffett at Berkshire Hathaway, obviously the GOAT, When he took over, ah, Berkshire Hathaway at 19 dollars a share 59 years ago, and now it's 641 thousand dollars a share, and it was all capital alloca…”

“TPU, you know, all the way through to all, TPU v-five, which is the one they're in production of now, and six, and, you know, all these are all gonna be you know, co-designed with Broadcom.”

“Their latest target to get away from Broadcom is twenty-twenty-seven, right? But like, you know, that's four years from now. Chip design cycle is four years. So they already tried to get away in twenty-twenty-five, and that failed.”

“So Broadcom is, is, is, is working with, on Google's chip right now, but of course on Meta's, Meta's internal AI chip, which they're on the second generation of, working on that.”

“To simplify it, NVIDIA has a little bit more than half, and Google has, like, 30%, right, through Broadcom. So it's like, the total capacity for everyone else is much lower, and they're all sharing it”

“So he's got huge exposure to two big single stock positions. It was one with Dell. They then spun off VMware, which has announced it's merging with Broadcom, but really big public market exposure there.”

“In 2018, Broadcom comes in and tries to do a hostile takeover at a one hundred and seventeen billion dollar valuation. And interestingly, it was financed by one hundred and six billion dollars of debt.”

“This is one of the huge wins of the Trump administration you know, for like America was keeping Qualcomm an independent American company. Like whether it was Qualcomm calling in a favor or just what, like, I think we can all look back in 2022 and be like, this…”

“MicroUnity, you probably haven't heard of, but it's got a lot of patents, and it's successfully litigated them from 20 years ago to maybe 10 years ago. I forget when they ran out of steam. I think it, Just made a ton of money off suing everybody. IBM, Motorola…”

“There are seven companies that represent. 98% of the market starting at the top with Murata. Corvo, Skyworks, Broadcom, Qualcomm, Wysol, and Tyoyuden.”

“For most of the industry the cost of transistors has stopped falling. And so as you scale, this is everybody but Intel in the industry says this. You, if you talk to Broadcom, if you talk to Qualcomm, all of the customers of the foundries say, you know, going …”