FILE PHOTO: A smartphone with a displayed Broadcom logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) -Broadcom said on Monday it was launching a new share buyback program of up to $10 billion, set to run through the end of the year, sending its shares up nearly 3% in extended trading.
CEO Hock Tan said the move reflects confidence in Broadcom's semiconductor and infrastructure software franchises, particularly its position in artificial intelligence-related investments.
