What's Going On With Broadcom Shares Tuesday?

Broadcom Inc. (NASDAQ:AVGO) launched VMware Cloud Foundation (VCF) 9, which is created to help customers transition from siloed IT systems to a unified, integrated private cloud platform.

VMware Cloud Foundation is the first private cloud platform to offer the scale and agility of a public cloud with the security, resilience, and performance of a private cloud, all while maintaining a low total cost of ownership.

VCF accelerates digital innovation by enabling faster infrastructure modernization, providing a unified cloud experience, and enhancing cyber resiliency and platform security.

VCF 9 aims to reduce costs and risks while simplifying the deployment, consumption, and operation of a secure, cost-effective private cloud.

Also Read: Broadcom Secures Major Wins With OpenAI, Google, Meta As It Targets $150B AI Market

Krish Prasad, senior vice president and general manager, VCF Division at Broadcom, said, “To break the infrastructure silos, reclaim control of public cloud sprawl, and capture the opportunity for AI in the enterprise, our customers are shifting from best-of-breed siloed architectures to a modern private cloud platform.”

“VMware Cloud Foundation 9 will redefine the landscape for private cloud by delivering a modern, integrated platform that will unify operations and automation to deliver a cloud experience that enables businesses to be more innovative, efficient, resilient and secure.”

In a separate release, Broadcom announced the launch of VMware Tanzu Platform 10, a cloud-native platform that speeds up software delivery and simplifies operations.

Apart from this, the company announced updates to its Software-Defined Edge product portfolio to support Edge AI workloads through improved connectivity, deployment, and lifecycle management capabilities.

This month, Broadcom launched Catalyst initiative to strengthen global partnerships and enhance Symantec and Carbon Black strategies.

Also Read: Broadcom Shares Trade Higher On Heels Of New Biden Semiconductor Rule

Investors can gain exposure to the semiconductor sector through Amplify ETF Trust Amplify Cybersecurity ETF (NYSE:HACK) and Invesco PHLX Semiconductor ETF (NASDAQ:SOXQ).

Price Action: AVGO shares are down 0.23% at $159.25 at the last check Tuesday.

Photo via Shutterstock

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.